The volume of domestic trade in the first quarter of 2023 increased by 56.7 percent, according to the Philippine Statistics Authority (PSA).
PSA data showed the total quantity of domestic trade in the first quarter of 2023 was registered at 5.34 million tons, an annual increase of 56.7 percent from the 3.41 million tons recorded quantity of domestic trade in the same quarter of 2022.
The total value of domestic trade in the first quarter of 2023,meanwhile, amounted to P199.72 billion. This indicated an increase of 46.7 percent from the P136.18 billion value of domestic trade in the same period in 2022.
“Domestic trade value refers to the outflow value of commodities transported from the region/province of origin to another region/province of destination,” the PSA said.
By commodity, the PSA said food and live animals led in terms of quantity of domestic trade in the first quarter of 2023 with 1.31 million tons or a share of 24.6 percent to the total domestic trade.
This was followed by mineral fuels, lubricants and related materials with 1.25 million tons or 23.3 percent and machinery and transport equipment with 1.04 million tons or 19.6 percent.
By region, Central Luzon registered the highest quantity of traded commodities with 1.29 million tons or 24.1 percent share to the total domestic trade in the first quarter of 2023.
This was followed by Central Visayas with a quantity of 1 million tons or 18.7 percent and Western Visayas with 0.66 million tons or 12.4 percent.
In terms of value, PSA data showed machinery and transport equipment topped in terms of value of traded commodities with P68.24 billion or 34.2 percent share to the total domestic trade value in the first quarter of 2023.
This was followed by food and live animals valued at P51.10 billion or 25.6 percent and manufactured goods classified chiefly by material, which amounted to P28.77 billion value of traded commodities or 14.4 percent.
Among the regions, Western Visayas topped with P44.70 billion value of traded commodities or 22.4 percent of the total value of traded commodities in the first quarter of 2023.
This was followed by Central Visayas with traded commodities amounting to P42.90 billion or 21.5 percent, followed by Eastern Visayas with P26.01 billion worth of traded commodities or 13 percent.
Meanwhile, by region, Central Visayas posted the highest inflow value of domestic trade at P44.33 billion or 22.2 percent share to the total inflow of domestic trade in the first quarter of 2023.
This was followed by Western Visayas with an inflow value of P34.34 billion or 17.2 percent and Caraga with P33.35 billion or 16.7 percent.
In contrast, Ilocos region recorded the lowest inflow value, which amounted to P0.44 billion or 0.2 percent during the first quarter of 2023.
“Inflow refers to the value of commodities that enter a specified region/province from other regions/provinces,” PSA said.
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