Quantity of domestic trade drops, value increases
The total quantity of domestic trade transactions during the first quarter of 2014 decreased by 14.3 percent, resulting to 5.13 million tons from 5.99 million tons reported in the same period of last year. The commodities were traded mostly through water comprising 99.9 percent and 99.8 percent in the first quarter of 2013 and 2014, respectively.
On the other hand, the total value of commodities that flowed within the country increased by 29.3 percent from PHP131.00 billion in the first quarter of 2013 to PHP169.44 billion in the same period of 2014. Shipment through water was the principal mode of transport in the first quarter of 2014 comprising 99.7 percent, the same percentage recorded in the first quarter of 2013.
Food and live animals contributes the largest share of domestic trade
The bulk of the value of commodities that flowed throughout the country in the first quarter of 2014 came from food and live animals amounting to PHP52.56 billion (31.0%). This was followed by machinery and transport equipment with PHP29.67 billion (17.5%) and manufactured goods classified chiefly by materials with PHP25.31 billion (14.9%). Animal and vegetable oils, fats and waxes had the least value of PHP1.92 billion (1.1%). (See Table 1)
Likewise, food and live animals contributed the largest value in the first quarter of 2013 amounting to PHP38.80 billion (29.6%). Machinery and transport equipment followed next with PHP20.29 billion (15.5%) while manufactured goods classified chiefly by material recorded PHP19.48 billion (14.9%). Animal and vegetable oils, fats and waxes shared the least value of PHP2.27 billion (1.7%). (See Table 1)
National Capital Region (NCR) leads in the value of domestic trade
In the first quarter of 2014, NCR reported the highest domestic trade share at PHP49.55 billion (29.2%). Western Visayas was second with PHP38.00 billion (22.4%) followed by Central Visayas with PHP24.52 billion (14.5%) while Northern Mindanao accounted for PHP15.45 billion (9.1%). Cagayan Valley’s domestic trade contributed the least share among the regions with only PHP25 thousand.
In the same way, most of the traded commodities for the first quarter of 2013 came from NCR with value of domestic trade amounting to PHP35.31 billion (27.0%). Central Visayas was second with PHP23.79 billion (18.2%),followed by Western Visayas with PHP23.71 billion (18.1%). Cagayan Valley’s domestic trade contributed the least share among the regions with only PHP30 thousand.
NCR posts the highest favorable trade balance
In the first quarter of 2014, NCR posted the most favorable trade balance at PHP17.23 billion. Other regions which surpassed the billion mark positive trade balance were Western Visayas PHP12.17 billion and Central Luzon, PHP9.99 billion. On the other hand, Central Visayas suffered an unfavorable trade balance of negative PHP6.91 billion. Other regions with a billion mark negative trade balances were Zamboanga Peninsula (PHP6.68 billion), CALABARZON (PHP5.58 billion), Caraga (PHP5.30 billion), Northern Mindanao (PHP4.75 billion), Davao Region (PHP4.44 billion), MIMAROPA (PHP3.24 billion), Ilocos Region (PHP1.32) and Eastern Visayas (PHP1.12).
On the other hand, Central Luzon posted the most favorable trade balance at PHP13.04 billion in the first quarter of 2013. Other regions which had a billion positive trade balances were NCR (PHP7.79 billion), Western Visayas (PHP3.10 billion), Bicol Region (PHP1.28 billion) and Central Visayas (PHP1.11 billion). Meanwhile, Zamboanga Peninsula suffered an unfavorable trade balance of negative PHP5.94 billion.
Notes:
- DOMSTAT reports from the following provinces/cities were not yet received as of June 13, 2014, and were not included in this special release:
- Romblon – Coastwise (January to March 2014)
- Western Samar – Coastwise (January to March 2014)
- Sulu – Coastwise (January to March 2014)
- As of first quarter 2014, Philippine National Railways (PNR) still has no trade transaction.
