Philippine domestic trade has booked growth for six quarters in a row, registering a 3.9% increase in volume and 10.6% in value in the third quarter of 2018, according to the Philippine Statistics Authority (PSA).
For the period July to September 2018, the volume of domestic trade grew to 5.05 million tons from 4.86 million tons in the same period in 2017.
Mineral fuels, lubricants and related materials commodities continued to lead in quantity with 1.23 million tons, or 24.4% share to total quantity of domestic trade. Animal and vegetable oils, fats and waxes commodities had the least quantity with only 0.014 million tons.
Similarly, the value of domestic trade went up in the third quarter, amounting to P170.33 billion compared to P153.99 billion in the third quarter of 2017.
Almost all of the commodities, or 99.8%, were traded through water (coastwise) while the remaining were traded through air.
Machinery and transport equipment topped in terms of value during the third quarter of 2018, amounting to P54.98 billion, or 32.3% of the total value of domestic traded. Food and live animals, with a value of P42.65 billion, and manufactured goods classified chiefly by material, with a value amounting to P20.33 billion, placed second and third, respectively.
Completing the top ten commodity sections in value terms for the third quarter were mineral fuels, lubricants and related materials, P15.62 billion; chemical and related products, P11.03 billion; beverages and tobacco, P9.66 billion; miscellaneous manufactured articles, P8.10 billion; commodities and transactions, P3.46 billion; crude materials, inedible except fuels, P3.36 billion; and animal and vegetable oils, fats and waxes, P1.14 billion.
Among the regions, Central Luzon registered the highest quantity of traded commodities with 1.20 million tons during the third quarter of 2018. Northern Mindanao and National Capital Region (NCR) followed with almost 1.20 million tons and 0.86 million tons, respectively.
Other regions recorded the following quantities: Western Visayas, 0.64 million tons; Eastern Visayas, 0.28 million tons; Davao Region, 0.24 million tons; Caraga, 0.20 million tons; Bicol Region, 0.11 million tons; Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City), 0.09 million tons; Central Visayas, 0.08 million tons; Zamboanga Peninsula, 0.06 million tons; Autonomous Region of Muslim Mindanao (ARMM), 0.06 million tons; Mimaropa (Occidental Mindoro, Oriental Mindoro, Marinduque, Romblon, and Palawan) Region, 0.01 million tons; and Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), 0.001 million tons.
Outflow—the total value of commodities which goes out of a specified region or province—and inflow—the total value of commodities coming into a specified region—in the third quarter of this year reached P170.33 billion, an increase of 10.6% from P153.99 billion recorded in the same quarter of 2017.
NCR still exhibited the highest outflow value, amounting to P58.75 billion or 34.5% of the total among the regions. Eastern Visayas and Western Visayas followed with P26.35 billion and P24.75 billion, respectively.
In terms of inflow value, Western Visayas posted the highest value, amounting to P30.75 billion or 18.1% share to the total, while the Cordillera Administrative Region (CAR) had the lowest inflow value of P10,000.
During the third quarter of this year, four regions posted positive trade balances, with NCR ranking first with P37.82 billion. Eastern Visayas followed with trade balance amounting to P18.19 billion, then Central Luzon with P10.79 billion, and ARMM with P1.27 billion.
Trade balance is the difference between outflow and inflow.
In contrast, 13 regions recorded unfavorable (negative) trade balance during the third quarter of 2018 and these were Central Visayas, P24 billion; Caraga, P20.79 billion; Western Visayas, P6 billion; Zamboanga Peninsula, P5.34 billion; Mimaropa Region, P4.46 billion; Calabarzon, P3.44 billion; Davao Region, P1.65 billion; Soccsksargen, P1.05 billion; Ilocos Region, P880.62 million; Northern Mindanao, P295.41 million; Bicol Region, P77.97 million; Cagayan Valley, P0.08 million; and CAR, P10,000.
