The Philippines’ domestic trade grew 5.4% in volume in the first quarter of 2018 to 5.11 million tons from 4.85 million tons in the same period last year, according to the Philippine Statistics Authority (PSA).
The growth followed the continued increases since the second quarter of 2017.
Food and live animals was the leading commodity in quantity with 1.36 million tons, or 26.5% share to total quantity of domestic trade. Animal and vegetable oils, fats and waxes had the least quantity with only 0.02 million tons.
Similarly, the value of domestic trade, amounting to P174.88 billion, went up, expanding by 6.14% in the first quarter of 2018 from P164.77 billion in the first quarter of 2017.
Of the total quantity and value of domestic trade for the first quarter of 2018, nearly all were traded by means of water while the remaining were traded through air.
Machinery and transport equipment remained the top commodity in value during the first quarter of 2018 with a value amounting to P55.62 billion, or 31.8% of the total. Food and live animals—posting a value of P41.38 billion—and manufactured goods classified chiefly by material—with a value of P24.77 billion—placed second and third, respectively.
Completing the top 10 commodity sections in terms of value for the first quarter of 2018 were mineral fuels, lubricants and related materials (P15.38 billion); miscellaneous manufactured articles (P10.66 billion); chemical and related products (P9.18 billion); beverages and tobacco (P7.72 billion); crude materials, inedible, except fuels (P4.63 billion); commodities and transactions (P4.36 billion); and animal and vegetable oils, fats and waxes (P1.14 billion).
Among the regions, Central Visayas posted the highest quantity of traded commodities with 1.20 million tons during the first quarter of 2018. Central Luzon and Northern Mindanao followed with 1.01 million tons and 0.79 million tons, respectively.
Total outflow and inflow value in the first quarter of 2018 added up to P174.88 billion. This translates to an increase of 6.1% from P164.77 billion recorded in the same quarter of 2017.
Outflow refers to the total value of commodities which goes out of the specified region or province, while inflow refers to the total value of commodities coming into the specified region. Trade balance is the difference between the outflow and inflow.
Among the regions, NCR exhibited the highest outflow value amounting to P37.62 billion, or 21.5% of the total outflow. It was followed by Central Visayas and Western Visayas with P35.15 billion and P30.40 billion, respectively.
In terms of inflow value, Central Visayas had the highest value amounting to P30.93 billion, or a 17.7% share of the total inflow in the first quarter of 2018. Cagayan Valley posted the lowest inflow value with P3.69 million.
Nine regions, meanwhile, posted positive trade balances in the first quarter of 2018. Eastern Visayas ranked first with a trade balance of P16.55 billion, followed by NCR with a trade balance amounting to P12.60 billion.
On the other hand, seven regions recorded unfavorable (negative) trade balances during the first quarter of 2018. These were Caraga, Northern Mindanao, Zamboanga Peninsula, Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), Mimaropa (Occidental Mindoro, Oriental Mindoro, Marinduque, Romblon, and Palawan), Ilocos Region, and Cagayan Valley.
