A.    Quantity

1.    Quantity of domestic trade decreased

The total quantity of domestic trade in the third quarter of 2023 was registered at 4.90 million tons. This represents an annual decrease of 24.2 percent from the 6.47 million tons recorded quantity of domestic trade in the same quarter of 2022. In the second quarter of 2023, the annual increment was reported at 15.8 percent, while in the third quarter of 2022, an annual increase of 17.0 percent was recorded.

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

2.    Mineral fuels, lubricants and related materials topped in terms of quantity of domestic trade

By commodity section, mineral fuels, lubricants and related materials led in terms of quantity of domestic trade in the third quarter of 2023 with 1.31 million tons or a share of 26.7 percent to the total domestic trade. This was followed by machinery and transport equipment with 0.80 million tons (16.3%) and commodities and transactions not classified elsewhere with 0.73 million tons (15.0%). (Figure 2 and Table 1)

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

By region, Central Luzon (Region III) registered the highest quantity of traded commodities with 1.44 million tons or 29.4 percent share to the total domestic trade in the third quarter of 2023. This was followed by Bicol Region (Region V) with a quantity of 0.71 million tons (14.5%) and Central Visayas (Region VII) with 0.66 million tons (13.5%). (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 third quarter of 2023 amounted to PhP 190.81 billion. This indicates an annual decrease of 38.3 percent from the PhP 309.46 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 third 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 80.06 billion or 42.0 percent share to the total domestic trade value in the third quarter of 2023. This was followed by manufactured goods classified chiefly by material at PhP 29.98 billion (15.7%) and food and live animals at PhP 23.87 billion (12.5%). (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 50.80 billion value of traded commodities or 26.6 percent of the total value of traded commodities in the third quarter of 2023. National Capital Region (NCR) came next with traded commodities amounting to PhP 43.66 billion (22.9%), followed by Eastern Visayas (Region VIII) with PhP 23.03 billion (12.1%) worth of traded commodities. (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 46.44 billion or 24.3 percent share  to the total inflow of domestic trade in the third quarter of 2023. This was followed by Caraga (Region XIII) with an inflow value of PhP 30.77 billion (16.1%) and Zamboanga Peninsula (Region IX) with PhP 22.70 billion (11.9%). On the other hand, Cordillera Administrative Region (CAR) recorded the lowest inflow value, which amounted to PhP 3.00 thousand during the third quarter of 2023. (Figure 7 and Table 3)

5.    NCR 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 third quarter of 2023 were the following:

a.    National Capital Region (NCR), PhP 30.60 billion;
b.    Central Luzon (Region III), PhP 12.92 billion; and
c.    Bicol Region (Region V), PhP 8.33 billion.

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

a.    Caraga (Region XIII), PhP -25.58 billion;
b.    Zamboanga Peninsula (Region IX), PhP -20.36 billion; and
c.    CALABARZON (Region IV-A), PhP -8.55 billion.  (Figure 8 and Table 3)

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