Value of domestic trade hits P302.50 billion
The total domestic trade for the year 1998 reached P302.50 billion representing a 1.7 percent decline from P307.75 billion recorded last year.
Regionwise, National Capital Region was the biggest source of domestic goods amounting to P71.02 billion or 23.5 percent of the total. This was followed by Central Luzon and Southern Mindanao with 13.0 percent and 11.9 percent, respectively. (See Figure 1.)
Figure 1. Value of Domestic Trade by Region: 1997 and 1998
The bulk of the most traded commodities came from mineral fuels, lubricants and related materials with 6.35 million tons or 28.7 percent of the total.
Valuewise, food and live animals made up the top traded goods that flowed within the country amounting to P100.97 billion or 33.4 percent followed by mineral fuels, lubricants and related materials with P50.12 billion or 16.6 percent of the total. (See Figure 2.)
Figure 2. Quantity and Value of Domestic Trade by Commodity: 1998
Water remains the major mode of transport
Among the three mode of transportation, water still continue to be the most popular with 22.09 million tons or 99.8 percent share of the total quantity worth P297.24 billion or 98.3 percent of the aggregate value. (See Figure 3.)
Almost 28.8 percent of the quantity of goods transported through the water transport system consisted of mineral fuels, lubricants and related materials. Food and live animals followed with 5.44 million tons or 24.6 percent. Commodities carried through the air and rail transport system were from food and live animals with 23.54 thousand tons (50.8 percent) and 1.76 thousand tons (55.1 percent), respectively.
Figure 3. Value of Domestic Trade by Mode of Transport: 1998
National Capital Region accounts the largest share of outflows
The goods coming from NCR accounted for the largest share of the total outflows at P71.02 billion or 23.5 percent of the total. Central Luzon reported shipments amounting to P39.36 billion (13.0 percent) while Southern Mindanao recorded P35.96 billion (11.9 percent).
The highest value of goods shipped out from NCR was accepted by Central Visayas amounting to P22.27 billion or 31.3 percent. Southern Mindanao with P10.18 billion (14.3 percent) ranked second and third, respectively. (See Figure 4.)
Figure 4. Regional Flow of Commodities: 1998
Central Luzon registers trade surplus
Only six regions experienced favorable balance of trade. Of all the regions, Central Luzon registered the biggest positive trade balance of P33.44 billion, followed by Southern Mindanao (P14.12 billion) and Central Mindanao (P9.16 billion), respectively.
The other regions record negative trade balances namely: Central Visayas, P19.95 billion, NCR, P19.61 billion and P5.85 billion for Eastern Visayas. (See Figure 5)
Figure 5. Domestic Trade Balances by Region: 1998
Source: National Statistics Office