Domestic trade slips in third quarter

MANILA, Philippines — Local commodities trading was not spared from the impact of the revert to lockdown in the third quarter as mobility restrictions affected the movement of goods.

Based on the preliminary results of domestic trade in the country released by the Philippine Statistics Authority, the value of goods traded inside the country declined from July to September.

Aggregate value of goods traded in the three-month period went down by 15 percent to P142.33 billion from P167.26 billion a year ago.

The government reimposed the enhanced community quarantine in many parts of the country in August as the Delta variant caused a spike in COVID cases.

Such a move curtailed mobility anew and dampened domestic trade, which was just starting to expand in the second quarter.

In terms of volume, the quantity of domestic trade reached 3.84 million metric tons, only inching up by 0.7 percent from 3.81 million MT the previous year.

By commodity group, manufactured goods classified chiefly by material topped in terms of trade quantity, comprising 36.8 percent of the total.

This was followed by food and live animals and commodities and transactions not elsewhere classified, which made up 21 percent and 13 percent, respectively.

However, machinery and transport equipment comprised the bulk of the total value, making up 31.5 percent or P44.8 billion.

Manufactured goods classified chiefly by material valued at P36.66 billion came in second followed by food and live animals amounting to P29.41 billion.

During the quarter, trade balance – the difference between the outflow value and the inflow value – was most favorable in Eastern Visayas, which registered a balance of P20.32 billion Northern Mindanao, P14.07 billion and Bicol region, P4.98 billion.

Caraga, on the other hand, had the highest negative trade balance of P30.44 billion in the third quarter. It was followed by Mimaropa with P3.18 billion and Zamboanga Peninsula with P3 billion.

Meanwhile, Central Visayas recorded the highest quantity of traded commodities with 1.52 million MT or 40 percent of total.

Eastern Visayas, on the other hand, ranked first with a total value of traded commodities of P32.31 billion or 22.7 percent of the aggregate.

The PSA compiles domestic trade statistics from coasting manifests and coastwise passenger manifests from major ports and other active seaports listed by the Philippine Ports of Authority all over the country.

It also collects air waybills from Philippine Airlines as a source of domestic trade statistics from air.