Domestic trade up slightly

MANILA, Philippines - The value of the country’s total domestic trade rose slightly in the third quarter from a year ago, the Philippine Statistics Authority (PSA) said.

Preliminary results of the PSA’s Commodity Flow in the Philippines Third Quarter report showed the total value of commodities traded within the country reached P144.40 billion in the third quarter of 2014, up 0.4 percent from P143.88 billion in the same period a year ago. 

“Trade transaction through water was the major mode of transport in the third quarter of 2013 comprising 99.7 percent and 99.6 percent in the same period of the current year,” the PSA said.

The volume of commodities traded within the country meanwhile, declined year-on-year. 

The total quantity of commodities traded within the country decreased 15.4 percent to 4.12 million tons in the third quarter this year from 4.87 million tons in the same quarter a year ago. 

“The commodities were traded mostly through water comprising 99.7 percent in the third quarter of 2014 and 99.8 percent recorded in the third quarter of 2013,” the PSA said.

Machinery and transport equipment accounted for the largest share among the commodity transactions within the country in the third quarter with its 26.6 percent share amounting to P38.48 billion.

Food and live animals placed second with its 25.1-percent share valued at P36.26 billion, followed by manufactured goods classified chiefly by materials which had a 13.5-percent share worth P19.52 billion.

Animal and vegetable oils, fats and waxes had the smallest share at 0.5 percent amounting to P780 million. 

Most of the traded goods for the third quarter came from the National Capital Region which had a 25.8 percent amounting to P37.26 billion. 

Western Visayas came in second with P22.43 billion (15.5 percent) followed by Central Visayas with P19.87 billion (13.8 percent).

Among the regions, Cagayan Valley had the least share in domestic trade for the third quarter with the value placed at P10,000.