Quantity and value of domestic trade rises
The total quantity of domestic trade transactions in 2010 increased by 4.6 percent, resulting from 19.40 million tons to 20.28 million tons reported in 2010. The commodities were traded mostly through water, comprising 99.8 percent of the total domestic trade (Figure 1).
Similarly, the total value of commodities that flowed within the country increased by 9.8 percent, from PhP467.66 billion in 2009 to PhP513.63 billion in 2010. Shipment through water was the major mode of transport with 99.3 percent share (Figure 2).
Food and live animals leads in total domestic trade value
Among the commodities that were transacted throughout the country in 2010, food and live animals contributed the largest value amounting to PhP150.18 billion (29.2%). This was followed by machinery and transport equipment with PhP111.60 billion (21.7%), and mineral fuels, lubricants and related materials with PhP69.33 billion (13.5%). Animal and vegetable oils, fats and waxes shared the least value of PhP7.13 billion (1.4%) (See Table A).
Mineral fuels, lubricants and related materials led the commodity trading in Luzon with a share of 25.4 percent (PhP50.40 billion) to the total value of commodities traded in the island group. This was followed by food and live animals with PhP41.04 billion (20.7%). Manufactured goods classified chiefly by material placed third with PhP29.70 billion (15.0%) (See Table 4).
In the Visayas, the top three commodity sections, in terms of its contribution to the total value of commodities traded were machinery and transport equipment, food and live animals, machinery and transport equipment, and manufactured goods classified chiefly by material with values PhP67.04 billion (35.5%), PhP59.33 billion (31.4%) and PhP16.95 billion (9.0%), respectively (See Table 4).
On the other hand, food and live animals topped the list of commodities traded in Mindanao, contributing 39.4 percent (PhP49.81 billion) of the total value of commodities traded in the island group. Manufactured goods classified chiefly by material ranked second sharing 15.7 percent (PhP19.83 billion). This was followed by machinery and transport equipment with PhP17.89 billion (14.2%) (See Table 4).
National Capital Region (NCR) dominates value of domestic trade
NCR accounted the largest share among the regions at 23.1 percent (PhP118.52 billion) in the total value of domestic trade in 2010. Western Visayas was next with transactions amounting to PhP65.62 billion (12.5%). Central Visayas followed closely, contributing PhP64.26 billion (12.8%). Eastern Visayas fourth with PhP59.12 billion (11.5%). While Northern Mindanao rank fifth with PhP57.89 (11.3%). Cagayan Valley’s domestic trade contributed the least share with only PhP557 thousand (See Figure 4).
Of the total value of commodities coming from NCR, the major regions of destination were Western Visayas (PhP33.56 billion), Central Visayas (PhP30.02 billion), Northern Mindanao (PhP14.63 billion) and Davao Region (PhP13.66 billion). Meanwhile, the top three commodities traded from NCR were food and live animals, manufactured goods classified chiefly by material, and machinery and transport equipment with values amounting to PhP30.23 billion (25.5%), PhP27.90 (23.5%) and PhP22.40 (18.9%), respectively. (See Table C2).
Central Luzon posts the highest favorable trade balance
Central Luzon posted the most favorable balance of trade in 2010 at PhP49.14 billion. Other regions which surpassed the billion positive trade balance were Eastern Visayas (PhP28.72 billion), Northern Mindanao (PhP12.86 billion), SOCCSKSARGEN (PhP10.72 billion), NCR (PhP8.94 billion), and Bicol (PhP3.68). On the other hand, Central Visayas recorded the biggest unfavorable trade balance of negative PhP40.20 billion (See Figure 5).