MANILA, Philippines - Trade of goods within the country registered double-digit growth in 2016, both in terms of volume and value on the back of strong sales of food and live animals, as well as machinery and transport equipment, the Philippine Statistics Authority (PSA) said.
The total quantity of traded goods rose 25 percent to 24.35 million tons in 2016 from 19.49 million tons in 2015. Of all the commodities traded, food and live animals had the highest quantity at 6.61 million tons.
The value of goods traded within the country, meanwhile, grew 35.6 percent to P871.67 billion in 2016 from P642.64 billion in 2016. Out of the total, sales of machinery and transport equipment had the highest value of P281.71 billion.
The bulk of the traded commodities (99.6 percent) were transported via water, while 0.4 percent were delivered through air transport.
Other than machinery and transport equipment and food and live animals, the other top traded commodities in the country were: chemicals and related compounds, mineral fuels, manufactured goods.
Movement of goods is fastest in the National Capital Region (NCR) which had the largest share in total domestic trade value in 2016 amounting to P275.64 billion. Central Visayas followed with transactions amounting to P141.65 billion.
NCR also posted the highest commodity outflow value in 2016 at P275.640 billion. In terms of inflow, Central Visayas recorded the largest value amounting to P173.96 billion in 2016.
Out of the country’s 17 regions, seven regions registered trade surpluses. These were: NCR, Central Luzon, Eastern Visayas, Davao Region, SOCCSKARGEN, ARMM, and Bicol Region.
PSA’s commodity flow statistics is a compilation of data of the transport of commodities through air and water transport systems in the country.
This information enables policy-makers to monitor domestic trade and identify the growth areas in the country.