Domestic trade in Q1: Volume up, value down
Credit to Author: ANNA LEAH E. GONZALES| Date: Wed, 19 Jun 2019 16:49:28 +0000
Total volume of domestic trade rose by 8.4 percent but its value fell 0.6 percent in the first quarter of the year, the Philippine Statistics Authority (PSA) reported on Wednesday.
PSA data indicated the quantity of domestic trade during the period reached 5.54 million metric (MT) tons from last year’s 5.11 million tons.
“Food and live animals commodities led in terms of quantity, with 1.19 million [metric] tons or 21.5 percent share to total quantity of domestic trade,” said PSA.
It said that among the regions, Northern Mindanao posted the highest quantity of traded commodities of 1.59 million MT. This was followed by Central Luzon with 1.13 million MT and National Capital Region (NCR) with 0.72 million MT.
Despite the increase, PSA said the value of domestic trade fell by 0.6 percent to P173.75 billion from P174.88 billion last year.
PSA said machinery and transport equipment accounted for the highest value of traded commodities during the period, amounting to P59.74 billion, up from P55.63 billion last year.
Commodity sections which decreased, however, were food and animals, manufactured goods classified chiefly by material, mineral fuels, lubricants and related materials, and chemical and related products.
The National Capital Region continue to be the source of commodities with outflow [value of commodities which goes out of the specified region or province] value amounting to P45.63 billion in the first quarter, PSA said.
The post Domestic trade in Q1: Volume up, value down appeared first on The Manila Times Online.