Quantity and value of domestic trade increases
The total quantity of domestic trade transactions in 2007 increased by 11.6 percent, resulting to 22.84 million tons from 20.47 million tons reported in 2006. The commodities were traded mostly through water, comprising 99.8 percent of the total domestic trade quantity (Figure 1).
Similarly, the total value of commodities that flowed within the country increased by 8.0 percent, from PhP408.69 billion in 2006 to PhP441.47 billion in 2007. Shipment through water was the major mode of transport with 99.5 percent share (Figure 2).
Food and live animals dominates in total domestic trade value
Among the commodities that were transacted throughout the country in 2007, food and live animals contributed the largest value amounting to PhP133.77 billion (30.3%). Machinery and transport equipment was next with PhP74.24 billion (16.8%). Manufactured goods classified chiefly by material followed with PhP65.93 billion(14.9%). Animal and vegetable oils, fats and waxes shared the least value of PhP2.56 billion (0.6%) (Table A).
However, commodity trading in Luzon was dominated by mineral fuels, lubricants and related materials with a share of 25.4 percent (PhP49.66 billion) to the total value of commodities traded in the island group. This was followed by food and live animals with PhP39.21 billion (20.1%). Manufactured goods classified chiefly by material ranked third with PhP32.92 billion (16.9%) (Table 4).
Meanwhile, the top three commodities in the Visayas, in terms of contribution to the total value of commodities traded in this island group were food and live animals, machinery and transport equipment, and manufactured goods classified chiefly by material with values PhP52.25 billion (37.5%), PhP38.40 billion (27.5%) and PhP12.62 billion (9.1%), respectively (Table 4).
Moreover, food and live animals also topped the list of commodities traded in Mindanao, contributing 39.6 percent (PhP42.31 billion) of the total value of commodities traded in the island group. Manufactured goods classified chiefly by material ranked second sharing 19.1 percent (PhP20.38 billion). This was followed by machinery and transport equipment with PhP15.78 billion (14.8%) (Table 4).
National Capital Region leads in value of domestic trade
In 2007, the National Capital Region accounted for 26.3 percent (PhP116.07 billion) of the total value of domestic trade, the largest share among the regions. Western Visayas was next with transactions amounting to PhP55.38 billion (12.5%). Central Luzon followed closely, contributing PhP54.86 billion (12.4%). Central Visayas was fourth with PhP52.73 billion (11.9%). This was followed by Northern Mindanao with PhP48.05 (10.9%). Cagayan Valley’s domestic trade contributed the least share with only PhP187 thousand (Figure 4).
Of the total value of commodities coming from NCR, the major regions of destination were Western Visayas (PhP32.86 billion), Central Visayas (PhP27.37 billion), Davao Region (PhP17.86 billion) and Northern Mindanao (PhP13.17 billion). Commodities traded from NCR were mostly manufactured goods classified chiefly by material, amounting to PhP29.97 billion (25.8%) (Table C2).
Central Luzon posts the highest favorable trade balance
Central Luzon recorded the most favorable balance of trade in 2007 at PhP53.54 billion. Other regions which surpassed the billion positive trade balance were NCR (PhP8.35 billion), Northern Mindanao (PhP6.99 billion), and Eastern Visayas (PhP6.31 billion). On the other hand, Central Visayas suffered an unfavorable trade balance of negative PhP22.53 billion (Figure 5).