Philippine domestic trade grew five quarters in a row, registering a 28.1% increase in volume in the second quarter of 2018 to 6.51 million tons from 5.08 million tons in the same quarter of 2017.
Mineral fuels, lubricants and related materials commodities led in quantity with 1.50 million tons or 23.1% share to total quantity of domestic trade, according to the Philippine Statistics Authority (PSA). Animal and vegetable oils, fats and waxes commodities remained with the least quantity with only 0.02 million tons.
Similarly, the value of domestic trade went up 25.3% to P216.29 billion in the second quarter of 2018 from P172.67 billion in the same period last year
Of the total quantity and value of domestic trade for this quarter, nearly all was traded by means of water while the remaining was traded through air.
Machinery and transport equipment topped in terms of value during the second quarter of 2018, amounting to P74.40 billion or 34.4% of the total value of domestic trade. Food and live animals, posting a value of P49.15 billion, and manufactured goods classified chiefly by material, with a value amounting to P31.16 billion, placed second and third, respectively.
Completing the top ten commodity sections in value terms for the second quarter of 2018 were mineral fuels, lubricants and related materials, P16.90 billion; miscellaneous manufactured articles, P13.03 billion; chemical and related products, P12.34 billion; beverages and tobacco, P9.14 billion; commodities and transactions, P5.69 billion; crude materials, inedible except fuels, P3.76 billion; and animal and vegetable oils, fats and waxes, P619.02 million.
Among the regions, Central Luzon posted the highest quantity of traded commodities during the second quarter with 1.51 million tons. Northern Mindanao and National Capital Region followed with 1.03 million tons and 0.90 million tons, respectively.
Outflow—or the total value of commodities which goes out of a specified region or province—and inflow—or the total value of commodities coming into a specified region—in the second quarter of this year reached P216.29 billion, an increase of 25.3% from P172.67 billion recorded in the same quarter of 2017.
Trade balance is the difference between the outflow and inflow.
NCR showed the highest outflow value amounting to P59.43 billion, or 27.5% of the total outflow among the regions. Central Visayas and Eastern Visayas followed with P34.15 billion and P30.47 billion, respectively.
In inflow value, Central Visayas had the highest value, amounting to P39.77 billion or 18.4% share of the total inflow in the second quarter of 2018. Cagayan Valley posted the lowest inflow value, amounting to P2.70 million.
Five regions posted positive trade balances in the second quarter of 2018. National Capital Region ranked first with a trade balance of P32.04 billion, followed by Eastern Visayas with P18.86 billion. Other regions that recorded positive trade balances were Central Luzon, P12.42 billion; Autonomous Region in Muslim Mindanao (ARMM), P1.49 billion; and Davao Region, P807.03 million.
In contrast, 11 regions recorded unfavorable (negative) trade balances during the second quarter of 2018: Caraga, Northern Mindanao, Zamboanga Peninsula, Central Visayas, Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), Mimaropa (Mindoro, Marinduque, Romblon, Palawan), Western Visayas, Soccsksargen (South Cotabato, Cotabato City, Cotabato Province, Sultan Kudarat, Sarangani, General Santos City), Bicol Region, Ilocos Region, and Cagayan Valley.
