Value and quantity of domestic trade declined
In the first quarter of 2003, the total value of domestic trade decreased by 9.4 percent, resulting to P74.59 billion from P82.37 billion registered during the same period of last year. Water was the major mode of transport with a share of 99.6 and 98.9 percent during the first quarters of 2003 and 2002, respectively. (See Figure 1).
There was a decline in the quantity of commodities traded by 37.7 percent from 6.83 million tons in first quarter 2002 to 4.26 million tons in first quarter 2003. The commodities were traded mostly through water comprising 99.8 percent in first quarter 2003 and 99.9 percent in first quarter 2002. (See Figure 2).
Almost one-third of total domestic trade value was contributed by food and live animals
The bulk of the value of commodities that flowed throughout the country in first quarter 2003 came from food and live animals with value amounting to P23.33 billion (31.3 percent). This was followed by mineral fuels, lubricants and related materials with P12.41 billion (16.6 percent). Machinery and transport equipment was next with P12.18 billion (16.3 percent). Animal and vegetable oils, fats and waxes shared the least value of P552 million (0.7 percent) (See Figure 3).
Similarly, in the first quarter of 2002, food and live animals dominated the domestic trade with a share of 34.2 percent of the total value (P28.13 billion). Mineral fuels, lubricants and related materials was next with a 14.9 percent share (P12.27 billion). This was followed by machinery and transport equipment with a share of 13.7 percent (P11.27 billion). Contributing the least was animal and vegetable oils, fats and waxes with value amounting only to P435 million. (See Figure 4).
Central Luzon leads in value of domestic trade share
In the first quarter of 2003, Central Luzon accounted for 18.9 percent (P14.08 billion), this being the largest share of the total value of domestic trade. This was followed by NCR with P13.08 billion (17.5 percent) domestic trade share. Central Visayas was third, contributing P11.20 billion (15.0 percent). Contributing the least was Cagayan Valley with only P59 thousand domestic trade share. (See Figure 5).
On the other hand, during the first quarter of 2002, NCR had the highest domestic trade value of P23.60 billion (28.7 percent). Central Luzon was next with a total value of P13.61 billion (16.5 percent). Western Visayas came up third with P10.34 billion (12.6 percent). Cagayan Valley remained the least contributing region with only P119 thousand domestic trade share. (See Figure 6).
Central Luzon posted favorable trade balance
In the first quarter of 2003, inflows were recorded in Central Luzon at P616 million resulting to the most favorable balance of trade at P13.46 billion. Three other regions registered more than a billion positive trade balances: Eastern Visayas (P2.38 billion), SOCCSKSARGEN (P2.62 billion) and Caraga (P2.01 billion). Inflows for the National Capital Region amounted to P21.38 billion resulting to an unfavorable balance of trade of -P8.30 billion.(See Figure 7).
Likewise, in the first quarter of 2002, Central Luzon also realized the most favorable trade balance at P12.90 billion. Other regions that posted more than a billion positive trade balances amounting to P1.96 billion and P3.19 billion were Western Visayas and SOCCSKSARGEN, respectively. On the other hand, Central Visayas suffered an unfavorable balance of trade of -P8.28 billion. (See Figure 8).
Source: National Statistics Office
Manila, Philippines
