Domestic trade up 16.4% in 2Q

MANILA, Philippines - Domestic trade rose 16.4 percent in terms of value in the second quarter from a year ago, the Philippine Statistics Authority (PSA) said.

Preliminary results of the PSA’s Commodity Flow in the Philippines Second Quarter report showed the total value of commodities traded within the country reached P170.20 billion in the second quarter of 2014, up from the P146.24 billion traded in the same period last year.

 “Shipment through water was the principal mode of transport in the second quarter of 2014, comprising 99.7 percent, the same percentage recorded in the second quarter of 2013,” the PSA said.

In terms of volume, commodities traded within the country also increased year-on-year.

The total quantity of commodities traded within the country climbed 1.2 percent to 4.87 million tons in the second quarter this year from 4.81 million tons in the same quarter a year ago.

“The commodities were traded mostly through water comprising 99.8 percent, the same percentage recorded in the second quarter of 2013,” the PSA said.

Food and live animals made up the bulk of the value of commodities traded within the country for the period with its 29.2 percent share amounting to P49.65 billion.

Machinery and transport equipment came in second with its 22.7 percent share valued at P38.71 billion, followed by manufactured goods classified chiefly by materials with a 13.9 percent share or P23.72 billion.

Animal and vegetable oils, fats and waxes had the smallest share at 1.3 percent worth P2.14 billion.

By region, the National Capital Region had the lion’s share of domestic trade for the second quarter with a 33.7 percent share amounting to P57.37 billion.

Western Visayas placed second with P29.96 billion (17.6 percent), followed by Northern Mindanao with P17.81 billion (10.5 percent).

Cagayan Valley’s domestic trade contributed the least share among the regions with only P43,000.