MANILA: The total volume and value of domestic trade recorded a double-digit increase in the first quarter of the year, the Philippine Statistics Authority (PSA) said.
In a report released on Friday, the PSA said the total quantity of domestic trade during the period reached 7.73 million tons, up by 19.7 percent from the 6.45 million tons in the same quarter last year.
The PSA said almost all of the commodities were traded through water, while the rest were traded through air in the first quarter of 2024.
By commodity section, food and live animals led in terms of the quantity of domestic trade in the first quarter of 2024 with 3.46 million tons, or a share of 44.7 percent to the total domestic trade.
This was followed by mineral fuels, lubricants and related materials and machinery and transport equipment.
By region, Western Visayas registered the highest quantity of traded commodities with 3.05 million tons or a 39.5 percent share to the total domestic trade, followed by Central Luzon and Central Visay
as.
The total value of domestic trade, on the other hand, also grew by 46.7 percent to PHP389.42 billion from PHP265.51 billion in 2023.
“In terms of value, majority (99.96%) of the commodities that flowed within the country were traded through water (coastwise), while the remaining were traded through air in the first quarter of 2024,” the PSA said.
Food and live animals topped in terms of value of traded commodities with PHP225.08 billion or 57.8 percent share to the total domestic trade value in the first quarter of 2024.
This was followed by machinery and transport equipment at PHP73.97 billion and manufactured goods classified chiefly by material at PHP30.29 billion.
Western Visayas recorded the highest value of traded commodities amounting to PHP223.33 billion.
The PSA, meanwhile, said the National Capital Region recorded the highest inflow value of domestic trade at PHP160.13 billion or 41.1 percent share to the total inflow of domestic trade in the first quarter of 2024.
“Inflow refers to the v
alue of commodities that enter a specified region or province from other regions or provinces,” the PSA said.
Source: Philippines News Agency
