Quantity and Value of Domestic Trade Falls
The total quantity of domestic trade transactions in 2006 decreased by 4.5 percent, resulting to 20.47 million tons from 21.45 million tons reported in 2005. The commodities were traded mostly through water, comprising 99.9 percent of the total domestic trade quantity (See Figure 1).
On the other hand, the total value of commodities that flowed within the country decreased by 0.1 percent from PhP409.16 billion in 2005 to PhP408.69 billion in 2006. Shipment through water was the major mode of transport with 99.7 percent share (See Figure 2).
Food and Live Animals Leads in Total Domestic Trade Value
Among the commodities that were transacted throughout the country in 2006, food and live animals contributed the largest value amounting to PhP128.52 billion (31.4%). Machinery and transport equipment was next with PhP65.16 billion (15.9%). Mineral fuels, lubricants and related materials followed with PhP61.88 billion (15.1%). Animal and vegetable oils, fats and waxes shared the least value of PhP2.60 billion (0.6%) (See Table A).
Commodity trading in Luzon was still dominated by mineral fuels, lubricants and related materials with a share of 29.3 percent (PhP52.80 billion) to the total value of commodities traded in the island group. This was followed by food and live animals with PhP37.77 billion (21.0%). Manufactured goods classified chiefly by material ranked third with PhP25.46 billion (14.1%) (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 materials with values PhP49.96 billion (37.6%), PhP37.86 billion (27.8%) and PhP11.81 billion (8.9%), respectively (See Table 4).
Furthermore, food and live animals topped the list of commodities traded in Mindanao, contributing 42.5 percent (PhP40.79 billion) of the total value of commodities traded in the island group. Manufactured goods classified chiefly by material placed second sharing 17.2 percent (PhP16.54 billion). This was followed by machinery and transport equipment with PhP13.60 billion (14.2%) (See Table 4).
NCR Leads in Value of Domestic Trade
In 2006, NCR accounted for 19.9 percent (PhP81.22 billion) of the total value of domestic trade, the largest share among the regions. This was followed by Central Luzon with transactions amounting to PhP55.77 billion (13.6%). Western Visayas was third, contributing PhP52.79 billion (12.9%). Central Visayas was next with PhP51.64 billion (12.6%). Northern Mindanao followed with PhP45.31 (11.1%). Cagayan Valley’s domestic trade contributed the least share with only PhP 730 thousand (See Table 2).
Of the total value of commodities coming from NCR, the major regions of destination were Central Visayas (PhP23.86 billion), Western Visayas (PhP17.30 billion), Davao Region (PhP13.16 billion) and Northern Mindanao (PhP8.44 billion). Commodities traded from NCR were mostly Manufactured goods classified chiefly by material, amounting to PhP22.10 billion (27.2%) (See Table C2).
Central Luzon Posts the Highest Favorable Trade Balance
Central Luzon recorded the most favorable trade balance in 2006 at PhP52.23 billion. Other regions which surpassed the billion positive trade balance were Western Visayas (PhP12.72 billion), Northern Mindanao (PhP12.37 billion), CALABARZON (PhP5.42 billion), Eastern Visayas (PhP2.47 billion), and SOCCSKSARGEN (PhP1.22 billion). On the other hand, NCR suffered an unfavorable trade balance of negative PhP23.55 billion (See Table 3).