Despite the easing of quarantine restrictions, the volume and value of goods traded across the country continued to decline year-over-year in the third quarter, albeit at a slower pace compared to the second quarter. where 75% of the economy was subjected to the strictest COVID-. 19 containment in the region.
The latest preliminary domestic trade statistics from the Statistical Authority of the Philippines (PSA) showed that the third quarter volume fell 61.6% to 2.29 million tonnes from 5.98 million tonnes ago. a year.
The bulk or 99.95 percent of products were traded by coastal or sea routes, while the remaining 0.05 percent were traded by air.
From July to September, beverages and tobacco were the most traded commodities in terms of quantity, with around 560,000 tonnes or 24.2 percent of the total.
The value of domestic trade in the third quarter also fell 60.1 percent to 91.2 billion pesos from 228.3 billion pesos in the same three-month period last year.
Of the total value of goods traded locally, 99.99 percent was transferred to other parts of the country through water transport.
âMachinery and transport equipment exceeded in terms of the value of products traded with 32.9 billion pesos or 36.1% share of the total. It was followed by manufactured goods classified mainly by material, as well as food and live animals with corresponding values ââof 28.7 billion pesos (31.5%) and 12.3 billion pesos (13.5% ), respectively, âPSA said. âBEN O. DE VERA
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