THE MOST COMMERCIAL. Foodstuffs and live animals lead in terms of domestic trade quantity in the fourth quarter of 2021 with 1.13 million tonnes. (Sunstar file)
CENTRAL Visayas recorded the highest amount of traded commodities in Q4 2021.
Preliminary data from the Philippine Statistics Authority released on Tuesday, March 15, 2022 showed the region leading in terms of the amount of traded commodities with 1.47 million tons or 44.2% share of total traded commodities. valued at 22,712,710 pula. Next come the Bicol region (region 5) with a quantity of 0.49 million tons (14.7%) and northern Mindanao (region 10) with 0.32 million tons (9.5%).
The total domestic trade quantity in the fourth quarter of 2021 was recorded at 3.32 million tons. This represents a decrease of 29.5%, compared to an annual increase of 19.5% in the previous quarter.
In the same quarter of 2020, the annual decline was recorded at 9.2%. Almost all (99.9%) of the goods were traded by sea (coastal), while the rest was traded by air.
Food and live animals led in terms of domestic trade quantity in the fourth quarter of 2021 with 1.13 million tonnes, a 34% share of the total. Next come manufactured products classified mainly by material with 0.71 million tonnes (21.3%) and goods and transactions not elsewhere classified with 0.52 million tonnes (15.6%).
Domestic trade value
Meanwhile, the total domestic trade value in the fourth quarter of 2021 stood at 105.86 billion pesos. This indicates a decline of 36.4% compared to the value of 166.52 billion pesos of internal trade during the same period of 2020.
The value of internal trade is the value of outflows, which refers to the value of products that move out of a specified region/province into another region/province.
Machinery and transport equipment topped the list in terms of the value of products traded with 32.49 billion pesos or 30.7% of the total. Next come manufactured goods classified mainly by material with a value of 24.92 billion pesos (23.5%), and food and live animals which amount to 23.85 billion pesos (22.5% ).
Among the regions, Eastern Visayas (Region 8) ranks first with a total value of traded products of 23.61 billion pesos, or 22.3% share of the total in Q4 2021. Central Visayas (Region 7) comes next with traded products amounting to 22.71 billion pula (21.5%), followed by northern Mindanao (region 10) with 18.67 billion pula (17.6%).
Meanwhile, Caraga (Region 13) posted the highest domestic trade entry value at P28.17 billion or 26.6% share of the total in the fourth quarter of 2021. It was followed by the Western Visayas (Region 6) with an entry value of P15 0.23 billion and Central Visayas (Region 7) with 14.58 billion pesos. On the other hand, Central Luzon (Region 3) had the lowest entry value which stood at 86 million pesos.
Inflow refers to the value of products entering the specified region/province from other regions/provinces.
In terms of trade balance or the difference between the value of outflows and the value of inflows, the top three regions posted favorable trade balances in the fourth quarter – Eastern Visayas, 12.78 billion pesos; Northern Mindanao, 9.62 billion pesos; and the Central Visayas, 8.13 billion pesos.