Quantity and Value of Domestic Trade decreased

In 2003, the total quantity of domestic trade decreased by 2.0 percent, resulting to 27.07 million tons from 27.63 million tons registered in 2002. Water was the major mode of transport comprising 99.8 percent of the total domestic trade quantity. (Figure 1)

There was also a decrease in the value of commodities traded by 10.3 percent from P394.45 billion in 2002 to P353.68 billion in 2003. The value of commodities traded by water amounted to P352.05 billion of the total domestic trade value. (Figure 2)

Almost thirty percent of total domestic trade value was contributed by food and live animals

The bulk of the value of commodities that flowed throughout the country in 2003 came from food and live animals with a value of P105.08 billion (29.7%). This was followed by machinery and transport equipment with P60.25 billion (17.0 %). Mineral fuels, lubricants and related materials was next with P57.85 billion (16.4 %). Animal and vegetable oils, fats and waxes shared the least value of P2.28 billion (0.6%) (See Table A).

National Capital Region leads in value of domestic trade share

In 2003, the National Capital Region (NCR) accounted for 22.2 percent (P78.42 billion), this being the largest share of the total value of domestic trade. This was followed by Central Luzon with P58.63 billion (16.6%) domestic trade share. Central Visayas was third, contributing P45.12 billion (12.8%). Contributing the least was Cagayan Valley with only P215 thousand domestic trade share.

Of the total value of commodities coming from NCR, the major regions of destination were Western Visayas (P15.73 billion), Central Visayas (P15.33 billion), Davao Region (P13.62 billion) and Northern Mindanao (P13.40 billion). Commodities traded from NCR were mostly Food and Live Animals, amounting to P18.86 billion (24.0%) (See Table C2).

Central Luzon posted favorable trade balance

In 2003, inflows were recorded in Central Luzon at P2.34 million resulting to the most favorable balance of trade at P56.29 billion. Three other regions registered more than a billion positive trade balances: SOCCSKSARGEN (P12.23 billion), Eastern Visayas (P9.64 billion), and MIMAROPA (P4.53 billion). Inflows for NCR amounted to P95.62 billion resulting to an unfavorable balance of trade at -P17.20 billion.