Quantity and value of domestic trade decreases
The total quantity of domestic trade transactions in 2008 decreased by 19.5 percent, resulting to 18.38 million tons from 22.84 million tons reported in 2007. The commodities were traded mostly through water, comprising 99.8 percent of the total domestic trade (Figure 1).
Likewise, the total value of commodities that flowed within the country decreased by 5.9 percent, from PhP441.47 billion in 2007 to PhP415.63 billion in 2008. Shipment through water was the major mode of transport with 99.6 percent share (Figure 2).
Food and live animals dominates in total domestic trade value
Among the commodities that were transacted throughout the country in 2008, food and live animals contributed the largest value amounting to PhP121.27 billion (29.2%). Machinery and transport equipment was next with PhP78.46 billion (18.9%). Manufactured goods classified chiefly by material followed with PhP66.13 billion (15.9%). Animal and vegetable oils, fats and waxes shared the least value of PhP4.32 billion (1.0%) (See Table A).
On the other hand, commodity trading in Luzon was occupied by mineral fuels, lubricants and related materials with a share of 26.9 percent (PhP48.50 billion) to the total value of commodities traded in the island group. This was followed by food and live animals with PhP33.09 billion (18.4%). Manufactured goods classified chiefly by material placed third with PhP31.40 billion (17.4%) (See Table 4).
Meanwhile, the top three commodities in the Visayas, in terms of its 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 PhP48.09 billion (35.8%), PhP37.62 billion (28.0%) and PhP12.12 billion (9.0%), respectively (See Table 4).
Besides, food and live animals also topped the list of commodities traded in Mindanao, contributing 39.6 percent (PhP40.10 billion) of the total value of commodities traded in the island group. Manufactured goods classified chiefly by material ranked second sharing 22.3 percent (PhP22.61 billion). This was followed by machinery and transport equipment with PhP16.13 billion (15.9%) (See Table 4).
National Capital Region (NCR) leads in value of domestic trade
In 2008, NCR accounted for 27.2 percent (PhP113.05 billion) of the total value of domestic trade, the largest share among the regions. Western Visayas was next with transactions amounting to PhP53.16 billion (12.8%). Northern Mindanao followed closely, contributing PhP50.48 billion (12.1%). Central Luzon was fourth with PhP48.53 billion (11.7%). This was followed by Central Visayas with PhP48.36 (11.6%). Cordillera Administrative Region’s domestic trade contributed the least share with only PhP 659 thousand (See Figure 4).
Of the total value of commodities coming from NCR, the major regions of destination were Western Visayas (PhP32.74 billion), Central Visayas (PhP28.50 billion), Davao Region (PhP15.94 billion) and Northern Mindanao (PhP12.38 billion). Commodities traded from NCR were mostly manufactured goods classified chiefly by material, amounting to PhP30.67 billion (27.1%) (See Table C2).
Central Luzon posts the highest favorable trade balance
Central Luzon recorded the most favorable balance of trade in 2008 at PhP47.15 billion. Other regions which surpassed the billion positive trade balance were NCR (PhP19.70 billion), Northern Mindanao (PhP11.77 billion), and Eastern Visayas (PhP9.48 billion). On the other hand, Central Visayas suffered an unfavorable trade balance of negative PhP33.26 billion (See Figure 5).