Despite an increase in the amount of goods traded domestically, the total value of these commodities contracted in 2019, according to the Philippine Statistics Authority (PSA).
Data showed the total value of domestic trade was estimated at P834.72 billion, a contraction of 2.9 percent from the P859.57 billion value of domestic trade recorded a year ago.
The total quantity of domestic trade in 2019 was posted at 25.89 million tons. This was a 0.4-percent growth from the 25.78 million tons volume of domestic trade recorded a year ago.
“Data on the inflow and outflow of commodities in the different regions serve as bases in the formulation and implementation of the various regional development programs like countryside development and port planning,” National Statistician Dennis S. Mapa said in the Commodity Flow report for 2019.
Almost all, or 99.9 percent, of these goods were traded through water transport while the remaining were through air transport. The PSA has not been collecting domestic trade via rail since the country’s rail systems underwent rehabilitation and upgrading in 2007.
In terms of value, commodities traded through water transport accounted for 99.9 percent of the total commodities that flow in the country. The remaining 0.1 percent of the total commodities were traded through air transport.
Machinery and transport equipment accounted for 32.4 percent or P270.05 billion of the total. It was followed by food and live animals; and manufactured goods classified chiefly by material, with corresponding values of P184.9 billion, or 22.2 percent and P121.32 billion, or 14.5 percent.
Among the regions, PSA data showed the National Capital Region (NCR) posted the highest value of domestic trade at P267.46 billion or 32-percent share to total value of domestic trade in 2019.
It was followed by Central Visayas with a value of P149.25 billion, or 17.9 percent and Eastern Visayas with P112.54 billion, or 13.5 percent.
Meanwhile, in terms of quantity, food and live animals topped in terms of quantity of domestic trade with 6.2 million tons, or a share of 24 percent to total.
PSA said it was followed by manufactured goods classified chiefly by material; and mineral fuels, lubricants and related materials, with 5.5 million tons, or 21.2 percent, and 3.95 million tons or 15.2 percent, respectively.
Data showed Central Visayas registered the highest quantity of traded commodities of 4.74 million tons, or 18.3 percent of the total quantity in 2019.
Northern Mindanao ranked second with a quantity of 4.51 million tons or 17.4 percent and NCR placed third with 4.22 million tons, or 16.3 percent.
Meanwhile, in terms of trade inflow value, Central Visayas posted the highest at P175.72 billion, or 21.1-percent share of the total inflow value of domestic trade in 2019.
It was followed by Caraga and Western Visayas with inflow values of P133.36 billion, or 16 percent and P117.93 billion or 14.1 percent, respectively. Cagayan Valley, meanwhile, had the lowest inflow value of P0.02 billion.
“Inflow refers to the total value of commodities that come into the specified region/province from other regions/provinces,” PSA said.
The data also showed that the regions with the most positive trade balance are NCR with a positive trade balance of P198.11 billion; Eastern Visayas, P37.27 billion; and Central Luzon, P28.32 billion.
Caraga, meanwhile, had the highest unfavorable, or negative trade balance value of P110.04 billion.
PSA explained that trade balance is the difference between the outflow value and inflow value.