Domestic trade volume plunged 37.9 percent year-on-year in the second quarter to 10.57 million tons from 17.02 million tons a year earlier, with shipments by water more than halving, according to the Philippine Statistics Authority (PSA).

Waterborne trade suffered the sharpest decline, dropping 56.7 percent to 3.77 million tons from 8.72 million tons in the same period last year. Road transport, which accounted for the largest share of domestic trade volume, declined 18.1 percent to 6.79 million tons.

Shipments by air buck the trend

Air shipments bucked the trend, rising 18.3 percent to 6.91 thousand tons, although they accounted for only 0.1 percent of total domestic trade volume.

Despite the decline in overall volume, road transport accounted for 64.3 percent of domestic trade, followed by water at 35.7 percent.

In value terms, domestic trade fell 21.9 percent to P745.70 billion from P955.18 billion a year earlier. Road transport, however, posted a 9.8-percent increase in value to P542.73 billion, while waterborne trade plunged 56 percent to P202.42 billion.

Largest domestic shipments source: CALABARZON remained the country’s largest source of domestic shipments, accounting for P331.63 billion or 44.5 percent of total outflow value. It also posted the biggest positive trade balance at P249.50 billion.

Meanwhile, the National Capital Region (NCR) was the largest destination, receiving P361.56 billion worth of commodities, equivalent to 48.5 percent of total inflow value. NCR recorded the biggest negative trade balance at P245.67 billion.

Machinery and electrical equipment led commodity outflows by value at P183.41 billion, followed by prepared food, beverages and tobacco products at P147.64 billion.