Domestic trade contracted sharply in the first quarter, with both shipment volume and trade value declining, as weaker sea cargo movement weighed heavily on overall interregional commerce.
Data from the Philippine Statistics Authority showed total domestic trade volume fell 35.3 percent to 10.17 million tons from 15.72 million tons in the same period last year.
Road transport remained the country’s dominant mode for moving goods, accounting for 50.6 percent of total domestic trade volume, followed closely by water transport at 49.3 percent. At the same time, air cargo represented only a marginal share.
Cargo transported by road reached 5.15 million tons, down 20.1 percent year-on-year, while commodities moved by water plunged 45.9 percent to 5.02 million tons. Air cargo volume also declined 19.9 percent to 4.57 thousand tons.
Mineral products emerged as the largest commodity group traded domestically, accounting for 3.07 million tons or 30.2 percent of total trade volume during the quarter.
Prepared food products and vegetable products followed, contributing 24.6 percent and 23.6 percent, respectively.
