Philippine domestic trade increased in both volume and value in the third quarter of 2019, latest data from the Philippine Statistics Authority (PSA) showed.
Total quantity of domestic trade during the third quarter of 2019 reached 5.09 million tons, up 0.8% from the 5.05 million tons recorded in the third quarter of 2018, preliminary PSA figures showed.
This is a reversal from the decline recorded in the second quarter of 2019, the first recorded decrease since 2017.
Food and live animals led in terms of quantity, with 1.19 million tons or a 23.4% share of total quantity of domestic trade. The commodity was followed by mineral fuels, lubricants and related materials and manufactured goods with 0.90 million tons (17.7% share) and 0.80 million tons (15.7%), respectively.
The value of domestic trade finally recorded an increase after two consecutive quarters of decline this year. The value grew 20.1% to P204.53 billion in the third quarter of 2019 from the P170.33 billion in the third quarter of 2018.
Machinery and transport equipment continues to lead in terms of value with P62.15 billion or a 30.4% share of the total. It was followed by food and live animals and manufactured goods with P51.58 billion or 25.2% and P25.94 billion or 12.7%, respectively.
Almost all of the commodities, or 99.8%, were traded through water (coastwise) while the remaining 0.2% were traded through air.
Among the regions, National Capital Region (NCR) registered the highest quantity of traded commodities at 1.17 million tons or 22.9% share, followed by Central Luzon with 0.83 million tons (16.4%) and Bicol Region with 0.66 million tons (12.9%).
NCR also placed first in value terms with P77.48 billion or 37.9% share to total value. It was followed by Western Visayas with P31.9 billion or 15.6% share and Eastern Visayas with P28.70 billion or 14%.
Regions that registered the highest inflow value—the total value of commodities coming into a specified region—were Central Visayas with P51.02 billion or 24.9% share to total inflow value, and Western Visayas and Caraga with P32.82 billion (16.0%) and P32.41 billion (15.8%), respectively. Cagayan Valley, on the other hand, had the lowest inflow value of P4.12 thousand ]P400,120?[.
NCR remained the region with the highest favorable trade balance, registering P61.37 billion. Trade balance is the difference between the inflow value and outflow value, which is outflow minus inflow.
NCR is followed by Eastern Visayas with P16.73 billion and Bicol Region with P6.33 billion. Central Visayas, on the other hand, had the highest unfavorable (negative) trade balance value of P42.02 billion.