Commodity Flow in the Philippines : Third Quarter 2004 (Preliminary Results)
Commodity flow or domestic trade refers to the flow of commodities through the water, air and rail transport systems in the country. Data on the inflow and outflow of commodities in the different regions of the country are used to construct interregional and inter-industry relation tables. These serve as bases in the formulation and implementation of various regional development programs like countryside development and port planning.
Quantity and value of domestic trade declined...
In the third quarter of 2004, the total quantity of commodities traded decreased by 23.3 percent, resulting to 5.50 million tons from 7.17 million tons registered during the same period of last year. Water was the major mode of transport with shares of 99.8 percent in the third quarters of both years 2003 and 2004.
There was a decline in the total value of domestic trade of 0.8 percent from P77.57 billion in the third quarter 2003 to P76.96 billion in the same period of 2004. The commodities were traded mostly through water comprising 99.4 percent and 99.3 percent in the third quarters of 2003 and 2004, respectively.
Almost one-third of total domestic trade value was contributed by food and live animals...
The bulk of the value of commodities that flowed throughout the country in the third quarter of 2004 came from food and live animals with value amounting to P22.03 billion (28.6%). This was followed by mineral fuels, lubricants and related materials with P16.57 billion (21.5%). Machinery and transport equipment was next with P13.25 billion (17.2%). Animal and vegetable oils, fats and waxes provided the least value of P864.29 million (1.0%) (See Table 1).
Similarly, in the third quarter of 2003, food and live animals dominated the domestic trade with a share of 27.9 percent (P21.64 billion) of the total value. Mineral fuels, lubricants and related materials was next with a 21.0 percent share (P16.32 billion). This was followed by machinery and transport equipment followed with a share of 16.5 percent share (P12.81 billion). Contributing the least was animal and vegetable oils, fats and waxes with value amounting only to P773.03 million (See Table 1).
Central Luzon leads in value of domestic trade...
In the third quarter of 2004, Central Luzon accounted for 21.1 percent (P 16.20 billion), this being the largest share of the total value of domestic trade. This was followed by the National Capital Region (NCR) with P15.57 billion (20.2%). Northern Mindanao was third, contributing P9.70 billion (12.6%). Eastern Visayas was next with P7.90 billion (10.3%). Contributing the least domestic trade share was Cagayan Valley with only P25 thousand.
On the other hand, during the third quarter of 2003, NCR had the highest domestic trade share at P23.36 billion (30.1%). Central Luzon was next with a total value of P13.44 billion (17.3%). Eastern Visayas came up third with P7.56 billion (9.7%). Following closely was Northern Mindanao with P 7.50 billion. Cagayan Valley remained the least contributing region with only P75 thousand domestic trade share.
Central Luzon posted favorable trade balance...
In the third quarter of 2004, inflows in Central Luzon were recorded at P492.83 million resulting to the most favorable balance of trade at P 15.71 billion. Four other regions registered more than a billion positive trade balances: Northern Mindanao (P4.83 billion), Eastern Visayas (P3.66 billion), SOCCSKSARGEN (P2.68 billion), and MIMAROPA (P1.74 billion). Inflows for Central Visayas amounted to P13.08 billion resulting to an unfavorable balance of trade of -P11.86 billion. Other regions with more than a billion negative trade balances were NCR (-P6.38 billion), CALABARZON (-P4.15 billion), Caraga (-P2.99 billion), and Western Visayas (-P 1.73 billion).
Likewise, in the third quarter of 2003, Central Luzon realized the most favorable trade balance at P12.89 billion. Other regions that posted more than a billion positive trade balances amounting to P4.07 billion, P3.80 billion and P3.57 billion were SOCCSKSARGEN, Eastern Visayas, and NCR and respectively. Central Visayas also suffered the most unfavorable balance of trade at -P11.01 billion.
Source: National Statistics Office