Philippine domestic trade has booked growth for seven quarters in a row, registering an 11.7% increase in volume and 0.3% in value in the fourth quarter of 2018 compared to the same quarter in 2017, according to the Philippine Statistics Authority (PSA).
For the period October to December 2018, the volume of domestic trade grew 11.7% to 7.24 million tons from 6.48 million tons in the same period in 2017.
Food and live animals ranked first in quantity with 2.09 million tons, or 28.8% share to total quantity of domestic trade. Animal and vegetable oils, fats and waxes commodities had the least quantity with only 0.02 million tons.
The value of domestic trade went up by just 0.3% in the fourth quarter, amounting to P177 billion compared to P176.39 billion in the same quarter of 2017.
Almost all of the commodities, or 99.9%, were traded through water (coastwise) while the remaining 0.1% were traded through air.
Machinery and transport equipment topped in terms of value during the fourth quarter of 2018, amounting to P61.11 billion, or 34.5% of the total value of domestic traded. Food and live animals, with a value of P42.3 billion, and manufactured goods classified chiefly by material, with a value amounting to P21.41 billion, placed second and third, respectively.
Completing the top 10 commodity sections in value terms for the fourth quarter were chemical and related products, P12.73 billion; mineral fuels, lubricants and related materials, P12.3 billion; miscellaneous manufactured articles, P10.12 billion; beverages and tobacco, P8.12 billion; commodities and transactions, P4.14 billion; crude materials, inedible except fuels, P3.35 billion; and animal and vegetable oils, fats and waxes, P1.42 billion.
Among the regions, Northern Mindanao registered the highest quantity of traded commodities with 3.29 million tons during the fourth quarter of 2018. Central Luzon and National Capital Region (NCR) followed with 0.99 million tons and 0.89 million tons, respectively.
Other regions recorded the following quantities: Central Visayas, 0.67 million tons; Western Visayas, 0.39 million tons; Eastern Visayas, 0.35 million tons; Caraga, 0.24 million tons; Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City), 0.14 million tons; Davao Region, 0.12 million tons; Bicol Region, 0.06 million tons; Zamboanga Peninsula, 0.04 million tons; Autonomous Region of Muslim Mindanao (ARMM), 0.04 million tons; Mimaropa (Occidental Mindoro, Oriental Mindoro, Marinduque, Romblon, and Palawan) Region, 0.01 million tons; and Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), 1.64 thousand 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 fourth quarter of 2018 reached P177 billion, an increase of 0.3% from P176.39 billion recorded in the same quarter of 2017.
NCR still exhibited the highest outflow value, amounting to P60.18 billion or 34% of the total among the regions. Eastern Visayas and Western Visayas followed with P27.7 billion and P21.12 billion, respectively.
In terms of inflow value, Central Visayas posted the highest value, amounting to P36.81 billion or 20.8% share to the total, while Cagayan Valley had the lowest inflow value of P23.21 million.
During the fourth quarter of 2018, four regions posted positive trade balances, with NCR ranking first with P41.78 billion. Eastern Visayas followed with trade balance amounting to P19.41 billion, then Central Luzon with P8.86 billion, and Soccsksargen with P457.45 million.
Trade balance is the difference between outflow and inflow.
In contrast, 12 regions recorded unfavorable (negative) trade balance during the fourth quarter of 2018 and these were Caraga, P23.82 billion; Central Visayas, P15.92 billion; Western Visayas, P7.53 billion; Davao Region, P5.23 billion; Zamboanga Peninsula, P4.93 billion; Northern Mindanao, P4.16 billion; Mimaropa Region, P3.91 billion; Calabarzon, P3.10 billion; Ilocos Region, P842.45 million; Bicol Region, P638.37 million; ARMM, P404.77 million; and Cagayan Valley, P0.02 million.
