THE total traded goods in the domestic scene was recorded at 4.29 million tons (MT) in the fourth quarter of 2022, according to the preliminary report of the Philippine Statistics Authority.
This translates to an annual decline of 23.8 percent from the 5.63 MT recorded quantity of domestic trade in the same quarter of 2021.
Almost all (99.9 percent) of the commodities were traded through water (coastwise), while the rest were traded through air for this quarter.
By commodity section, mineral fuels, lubricants and related materials led in terms of quantity of domestic trade in the fourth quarter of 2022 with 1.32 MT or a share of 30.7 percent to the total domestic trade.
This was followed by food and live animals with 0.80 MT (18.7 percent) and machinery and transport equipment with 0.77 MT (18.1 percent).
By region, Central Luzon registered the highest quantity of traded commodities with 1.39 MT or 32.5 percent share of the total domestic trade in the fourth quarter of 2022. This was followed by Central Visayas with 1.04 MT and Western Visayas with 0.52 MT.
Domestic trade value refers to the outflow value of commodities transported from the region/province of origin to another region/province of destination.
The total value of domestic trade in the fourth quarter of 2022 amounted to P162.74 billion, down 8.3 percent from the P177.43 billion value of domestic trade in the same period of 2021.
By mode of transport, almost all (99.97 percent) of the commodities that flowed within the country in the fourth quarter of 2022 were traded through water, while the remaining were traded through air.
Machinery and transport equipment topped in terms of value of traded commodities with P64.44 billion or 39.6 percent share of the total domestic trade value in the last quarter of 2022. This was followed by food and live animals valued at P34.32 billion and manufactured goods classified chiefly by material which amounted to P27.21 billion value of traded commodities.
Value of traded commodities
Among the regions, Central Visayas topped with P40.49 billion value of traded commodities or 24.9 percent of the total value of traded commodities in the fourth quarter of 2022. Eastern Visayas came next with traded commodities amounting to P31.69 billion followed by Western Visayas with P31.41 billion.
Moreover, in terms of inflow value, Caraga posted the highest inflow value of domestic trade at P34.77 billion or 21.4 percent share of the total inflow of domestic trade in the fourth quarter of 2022.
Inflow refers to the value of commodities that enter a specified region/province from other regions/provinces.
Caraga was followed by Central Visayas with an inflow value of P34.10 billion and Western Visayas with P21.28 billion. On the other hand, Ilocos Region had the lowest inflow value which amounted to P0.56 billion during the fourth quarter of 2022.
Trade balance
Meanwhile, Eastern Visayas registered the highest trade balance.
Trade balance is the difference between the outflow value and inflow value. A positive value indicates a favorable trade balance, while a negative value indicates an unfavorable trade balance.
The top three regions with favorable domestic trade balances in the fourth quarter of 2022 were the following:
a. Eastern Visayas (P19.10 billion)
b. Northern Mindanao (P13.69 billion)
c. Central Luzon (P11.88 billion).
On the other hand, top three regions with unfavorable domestic trade balances during the quarter were:
a. Caraga (P -29.46 billion)
b. National Capital Region
(P-18.02 billion) and
c. Calabarzon (P -9.24 billion). (KOC)