A. Quantity

1.    Quantity of domestic trade increased

The total quantity of domestic trade in the second quarter of 2023 was registered at 5.79 million tons. This represents an annual increase of 1.0 percent from the 5.73 million tons recorded quantity of domestic trade in the same quarter of 2022. In the first quarter of 2023, the annual increment was reported at 18.0 percent, while in the second quarter of 2022, an annual decline of -2.9 percent was recorded.

Almost all (99.9%) of the commodities were traded through water (coastwise), while the rest were traded through air in the second quarter of 2023. (Figure 1 and Table A)

2.    Machinery and transport equipment topped in terms of quantity of domestic trade

By commodity section, machinery and transport equipment led in terms of quantity of domestic trade in the second quarter of 2023 with 1.79 million tons or a share of 30.9 percent to the total domestic trade. This was followed by mineral fuels, lubricants and related materials with 1.16 million tons (20.1%) and food and live animals with 0.64 million tons (11.0%). (Figure 2 and Table 1)

3.    Central Visayas led in terms of quantity of traded commodities

By region, Central Visayas (Region VII) registered the highest quantity of traded commodities with 1.51 million tons or 26.0 percent share to the total domestic trade in the second quarter of 2023. This was followed by Central Luzon (Region III) with a quantity of 1.29 million tons (22.3%) and Caraga (Region XIII) with 1.18 million tons (20.3%). (Figure 3 and Table 2)

B. Value

1.    Value of domestic trade declined

Domestic trade value refers to the outflow value of commodities transported from the region/province of origin to another region/province of destination.

The total value of domestic trade in the second quarter of 2023 amounted to PhP 171.54 billion. This indicates an annual decrease of -36.2 percent from the PhP 268.70 billion value of domestic trade in the same period of 2022.

By mode of transport, almost all (99.96%) of the commodities that flowed within the country in the second quarter of 2023 were traded through water (coastwise), while the remaining were traded through air. (Figure 4 and Table 1) 

2.    Machinery and transport equipment registered the highest value of traded commodities

Machinery and transport equipment topped in terms of value of traded commodities with PhP 61.51 billion or 35.9 percent share to the total domestic trade value in the second quarter of 2023. This was followed by manufactured goods classified chiefly by material at PhP 32.60 billion (19.0%) and food and live animals at PhP 24.97 billion (14.6%). (Figure 5 and Table 1)

3.    Central Visayas recorded the highest value of traded commodities

Among the regions, Central Visayas (Region VII) topped with PhP 95.61 billion value of traded commodities or 55.7 percent of the total value of traded commodities in the second quarter of 2023. Eastern Visayas (Region VIII) came next with traded commodities amounting to PhP 17.31 billion (10.1%), followed by Central Luzon (Region III) with PhP 12.28 billion worth of traded commodities (7.2%). (Figure 6 and Table 2)

4.    Central Visayas led in terms of inflow value

Inflow refers to the value of commodities that enter a specified region/province from other regions/provinces.

By region, Central Visayas (Region VII) posted the highest inflow value of domestic trade at PhP 57.97 billion or 33.8 percent share to the total inflow of domestic trade in the second quarter of 2023. This was followed by Caraga (Region XIII) with an inflow value of PhP 29.55 billion (17.2%) and Eastern Visayas (Region VIII) with PhP 23.69 billion (13.8%). On the other hand, Ilocos Region (Region I) recorded the lowest inflow value, which amounted to PhP 0.29 billion (0.2%) during the second quarter of 2023. (Figure 7 and Table 3)

5.    Central Visayas registered the highest trade balance

Trade balance is the difference between the outflow value and inflow value. A positive value indicates a favorable trade balance, while a negative value indicates an unfavorable trade balance.

The top three regions with favorable (positive) domestic trade balances in the second quarter of 2023 were the following:

a.    Central Visayas (Region VII), PhP 37.64 billion;
b.    Central Luzon (Region III), PhP 11.43 billion; and
c.    Bicol Region (Region V), PhP 5.81 billion.

On the other hand, the top three regions with unfavorable (negative) domestic trade balances in the second quarter of 2023 were the following:

a.    Caraga (Region XIII), PhP -24.03 billion;
b.    Northern Mindanao (Region X), PhP -15.45 billion; and
c.    Eastern Visayas (Region VIII), PhP -6.38 billion. (Figure 8 and Table 3)

DIVINA GRACIA L. DEL PRADO, PhD
Assistant Secretary
Deputy National Statistician
Sectoral Statistics Office