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Philippine domestic trade in 2022 shrank 20.1% in volume but grew 13.3% in value, buoyed by machinery and transport equipment, which made up 31.3% of the total value
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94% of commodities traded last year were water-borne, while the rest were via air
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Food and live animals led the commodities in terms of quantity
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Central Visayas traded the largest quantity of commodities; NCR accounted for the highest value
Philippine domestic trade fell 20.1% in volume but increased 13.3% in value in 2022, according to the Philippine Statistics Authority (PSA).
The volume of domestic trade last year reached 18.63 million tons, lower than the 23.31 million tons recorded in 2021.
In terms of value, domestic trade totalled P845.5 billion, up from P746.36 billion in 2021.
Nearly all or 99.94% of commodities traded last year were seaborne, while the rest were via air.
By commodity type, food and live animals led in quantity with 4.16 million tons traded, or 22.3% of the total. This was followed by mineral fuels, lubricants and related materials at 3.6 million tons or 19.3%, and manufactured goods at 3.14 million tons, or 16.9%.
Machinery and transport equipment topped in terms of value, accounting for P265.06 billion or 31.3% of the total. Food and live animals followed at P188.97 billion, or 22.4% of the total, and manufactured goods, which amounted to P149.23 billion, or 17.7%.
By region, Central Visayas registered the largest quantity of traded commodities at 3.93 million tons, or a 21.1% share of the total. Central Luzon followed with 3.69 million tons, or 19.8%, and National Capital Region (NCR) at 3.3 million tons, or 17.7%.
NCR, meanwhile, led in terms of trade value with P215.96 billion, or a 25.5% share. Central Visayas came next with P156.35 billion, or 18.5%, followed by Western Visayas with P136.46 billion, or 16.1%.
Central Visayas posted the highest inflow value at P193.16 billion, or 22.8% of the total inflow of domestic trade in 2022. This was followed by Caraga with P137.80 billion, or 16.3%, and Western Visayas with P135.63 billion, or 16%. On the other hand, Cagayan Valley had the lowest inflow value of P10 million.
The top three regions with favorable domestic trade balances in 2022 were NCR at P150.97 billion; Eastern Visayas, P53.92 billion; and Central Luzon, P31.93 billion.
The top three regions with unfavorable trade balances, on the other hand, were Caraga with a P119.95 billion shortfall, followed by CALABARZON with a P40.86 billion gap; and Central Visayas with a P36.81 billion deficit.
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