DOMESTIC trade volume posted a double-digit decline in the second quarter of the year due to lower quantity of some of the commodities delivered, a report from the Philippine Statistics Authority (PSA) showed.
The total quantity of goods traded from May to June totaled 4.10 million metric tons (MT), 38.2 percent lower than 6.64 million MT posted in the same period last year.
The latest volume, meanwhile, represents a reversal from the 43.1-percent annual increase logged in the first quarter of 2024.
Domestic trade value, meanwhile, hit P186.62 billion, indicating a 14.9-percent decrease from P214.7 billion recorded in the same months of 2023.
During the quarter, food and live animals led the country’s domestic trade, accounting for 1.01 million MT or 24.7 percent of the total quantity. Mineral fuels, lubricants and related materials followed at 954,867 MT (23.3 percent); and machinery and transport equipment at 524,296 MT (12.8 percent).
Among the regions, the highest volume of traded commodities was recorded in Central Luzon with 1.09 million MT or 26.5-percent share of total trade during the second quarter.
The National Capital Region (NCR) followed with 1.05 million MT and Western Visayas with 401,311 MT.
In terms of value, machinery and transport equipment led among the commodities with traded goods valued at P61.23 billion; food and live animals at P44.86 billion; and manufactured goods classified chiefly by material at P23.18 billion.
The NCR also recorded the highest value with P66.78 billion during the period (36.6-percent share); Eastern Visayas with P23.59 billion (12.9 percent); and Northern Mindanao with P19.22 billion (10.5 percent) worth of traded commodities.
According to the PSA, 99.9 percent of the commodities were shipped through water while the rest were delivered through air.
Central Visayas led in terms of the value of inflow recorded at P38.43 billion during the second quarter while the NCR registered the highest favorable trade balance valued at P50.75 billion.
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