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Domestic trade value up 10.6% in Q3

AJ Bajo

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The value of domestic trade jumped by 10.6 percent in the quarter ending September this year, amounting to P170.33 billion from P153.99 billion in the same quarter of 2017, according to the Philippine Statistics Agency (PSA).

Quantity of domestic trade was also up by 3.9 percent during the period, to 5.05 million tons from 4.86 million tons in 2017.

According to the statistics agency, mineral fuels, lubricants and related material commodities topped in terms of quantity, making up 1.23 million tons equivalent to 24.4 percent share in the domestic trade’s total quantity.

Meanwhile, commodities animal and vegetable oils, fats and waxes recorded the least quantity with only 0.014 million tons.

Central Luzon recorded the highest quantity of traded goods among the regions with a 23.8 percent share, or 1.20 million tons, followed by Northern Mindanao and the National Capital Region (NCR) with near 1.20 million tons and 0.86 million tons, respectively.

In terms of trade balance, or the balance between regional imports and exports, NCR topped the list of regions with positive trade balance at P37.82 billion, followed by Eastern Visayas with P18.19 billion.

Cordillera Administrative Region, meanwhile, was at the end of the list of regions with negative trade balance, at only P10,000.

The largest chunk of the commodities, at 99.8 percent, were traded through water (coastwise) while the remaining were traded through air, PSA said.

The statistics agency compiles the data for commodity flow or domestic trade statistics for commodities carried through the air, rail and water transport systems across the country.

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