Value and quantity of domestic trade increased to P394.45 billion and 27.6 million tons

The total value of domestic trade in 2002 amounted to P394.45 billion, higher by 16.4 percent from the P338.90 billion reported in the year 2001. Value of commodities traded via water amounted to P391.44 billion, comprising 99.2 percent of the total domestic trade value. (Figure 1).

Likewise, the quantity of commodities traded increased to 27.63 million tons, an increase of 40.9 percent compared to the previous year’s figure of 19.61 million tons. The bulk of commodities were traded through water transport comprising 99.8 percent. (Figure 2).

Food and Live Animals accounted 31.3 percent of total domestic trade value

Of the commodities traded throughout the country, food and live animals posted the highest share in total domestic trade value with P123.61 billion (31.3 percent). Mineral fuels, lubricants and related materials came next with P60.01 billion (15.2 percent). This was followed by machinery and transport equipment with P58.71 billion (14.9 percent). (Figure 3). Animal and vegetable oils, fats and waxes had the least share value of P3.15 billion (0.8 percent). (Table A).

More than one-fourth of domestic trade value came from NCR

NCR had the highest value of domestic trade share amounting to P104.15 billion (26.4 percent). Central Luzon followed, with a share of P55.26 billion (14.0 percent). This was followed by Central Visayas with P38.30 billion (9.7 percent) share. Cagayan Valley had the lowest share of P1.14 million. (Figure 4). Of the total value of commodities coming from NCR, major region of destinations are Central Visayas (P29.39 billion), Western Visayas (P17.33 billion) and Northern Mindanao (P16.27 billion). (Table C1). Commodities originating from NCR are mostly Food and Live Animals amounting to P123.61 billion (31.3 percent). (Table C2).

Central Luzon recorded favorable domestic trade balance at P52.44 billion

The most favorable balance of trade at P52.44 billion was posted in Region 3 (Central Luzon). Other regions with positive trade balances were SOCCSKSARGEN (P15.91 billion), Southern Tagalog (P8.85 billion), Eastern Visayas (P4.17 billion) and NCR (P2.19 billion). Central Visayas suffered a trade deficit of P33.08 billion. (Figure 5).