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Philippines: Domestic trade grows 5.4% in Q1 2018
MANILA, Philippines — Domestic trade grew 5.4 percent in the first quarter as more food products and live animals were traded nationwide, according to the Philippine Statistics Authority (PSA).
The total quantity of goods traded locally rose to 5.11 million tons in the first three months from 4.85 million tons in the same quarter in 2017. Movement of food and live animals across regions was the fastest in terms of quantity with 1.36 million tons registered, comprising 26.5 percent of the total.
Likewise, the value of traded goods rose 6.14 percent to P174.88 billion in the first quarter from P164.77 billion in the first quarter of 2017. Machinery and transport equipment accounted for 31.8 percent of the total value of traded commodities with shipments valued at P55.62 billion during the reference period.
Among the regions, the movement of goods was fastest in Central Visayas, which posted the highest quantity of traded commodities at 1.20 million tons during the first quarter. It was followed by Central Luzon and Northern Mindanao with 1.01 million tons and 0.79 million tons, respectively.
Other regions that registered strong trade activity during the quarter were: Western Visayas, National Capital Region, Eastern Visayas, Davao Region, Bicol Region, SOCCSKSARGEN, CALABARZON, Zamboanga Peninsula, Caraga, ARMM, and Mimaropa.
Out of the country’s 17 regions, nine regions posted trade surpluses in the first quarter. Eastern Visayas ranked first with a trade balance of P16.55 billion, followed by NCR with trade balance amounting to P12.60 billion.
Other regions that recorded surpluses were: Central Luzon, Central Visayas, ARMM, Western Visayas, SOCCSKSARGEN, Davao Region, and Bicol Region.
Seven regions, meanwhile, registered trade deficits: Caraga, Northern Mindanao, Zamboanga Peninsula, CALABARZON, MIMAROPA, Ilocos Region, and Cagayan Valley.
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.
Source: https://www.philstar.com/business/2018/06/13/1824019/domestic-trade-grows-54-q1-2018#8RZyTx0aZl2z1OOO.99