PSA: domestic trade contracts in the third quarter

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The country’s domestic trade, both in volume and value, declined in the third quarter of 2020, the Philippines Statistics Authority (PSA) reported on Friday.

Data from the statistics agency showed that the domestic trade volume from July to September slipped to 2.29 million tonnes, down 61.6% from 5.98 million tonnes in the same quarter a year earlier.

“Almost all (99.95%) of the commodities were traded by sea (coast). On the other hand, the total amount of goods traded by air was only 0.05% of the total, ”he said.

Among commodities, beverages and tobacco had the most quantity in terms of 0.56 million tonnes, representing a share of 24.2 percent of the total.

Region 10 (Northern Mindanao) recorded the highest amount of products traded – 1.14 million tonnes or 49.7 percent of the total. Region 5 (Bicol) followed with 0.55 million tonnes (23.9%) and Region 8 (Eastern Visayas) with 0.26 million tonnes (11.3%).

Meanwhile, the total value of domestic trade in the quarter reached 91.19 billion pesos, a reduction of 60.1 percent from 228.34 billion pesos year-on-year.

Machinery and transport equipment dominated in terms of value with 32.94 billion pesos, representing a 36.1% share of the total. They are followed by manufactures classified mainly by material and food and live animals, valued at 28.73 billion pesos (31.5 percent) and 12.33 billion pesos (13.5 percent), respectively.

Northern Mindanao ranked first with a value of 44.64 billion pesos, or 48.9% of the total. The Eastern Visayas and Bicol were next with 24.68 billion pesos (27.1%) and 8.68 billion pesos (9.5%), respectively.

Northern Mindanao also recorded the highest entry value with 30.37 billion pesos (33.3%).

“Entries refer to the total value of goods entering the specified region or province,” the PSA explained.

Region 7 (Central Visayas) and Eastern Visayas came next with inflow values ​​of P18.38 billion (20.1%) and P11.84 billion (13%), respectively.

Region 13 (Caraga) had the lowest entry value of 6.16 million pula.


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