PSA: Domestic trade posts double-digit dip in Q4 ’20

TRADE of various commodities within the Philippines continued to post double-digit declines in both value and quantity in the last quarter of 2020, according to the Philippine Statistics Authority (PSA).

Based on the Commodity Flow in the Philippines report, domestic trade contracted 53.5 percent in terms of value and 38.8 percent in terms of quantity.

The total value of goods traded domestically amounted to P82.19 billion in 2020, lower than the P176.84 billion posted in the same period in 2019. For quantity, commodities shipped across the archipelago only reached 3.17 million metric tons last year, a decline from 5.19 MMT in 2019.

“Domestic trade statistics contained in this report pertain to the flow of goods through airports and seaports in the country, whether for government or private use, or commercial purposes. It covers air trade and coastwise trade,” PSA said.

By mode of transport, the total value of traded commodities through water accounted for almost all or 99.96 percent of the total commodities that flow within the country, while the remaining were traded through air.

Data also showed manufactured goods classified chiefly by material topped in terms of the value of traded commodities with P26.72 billion or 32.5-percent share to the total.

This was followed by machinery and transport equipment valued at P24.38 billion or 29.7 percent and food and live animals which amounted to P13.29 billion or 16.2 percent.

Further, PSA data showed that among the regions, Northern Mindanao ranked first with a total value of traded commodities of P29.96 billion or 36.5-percent share to the total in the fourth quarter of 2020.

Central Visayas came in second with traded commodities amounting P23.17 billion or 28.2 percent followed by Eastern Visayas with P17.54 billion or 21.3 percent of the total.

Meanwhile, in terms of quantity, commodities and transactions not elsewhere classified topped in terms of quantity of domestic trade in the fourth quarter of 2020 with 0.94 million tons (MT) or a share of 29.6 percent to the total.

This was followed by food and live animals with 0.59 MT or 18.6 percent of the total and manufactured goods classified chief ly by material with 0.57 MT or 17.9 percent.

By region, Central Visayas recorded the highest quantity of traded commodities with 1.3 MT or 41.1- percent share to the total in the fourth quarter of 2020.

This was followed by Northern Mindanao with a quantity of 1.05 million tons or 33 percent of the total and Bicol region with 0.34 million tons or 10.7 percent.

Meanwhile, PSA data showed that the top 3 regions with a favorable or positive trade balance were Northern Mindanao, Eastern Visayas and Central Visayas.

However, the regions with trade deficits were Caraga, the National Capital Region or Metro Manila and Western Visayas.

“The trade balance is the difference between the outflow value and inflow value,” PSA explained.

Data on the inflow and outflow of commodities in the different regions of the country are used to construct inter-regional and inter-industry relation tables.

These serve as bases in the formulation and implementation of various regional development programs like countryside development and port planning.

Goods and/or commodities that are excluded in the compilation of domestic data are goods transported by vessels of the Philippine Navy; fishing ports; and fish and other marine products landed directly from the sea.

Also excluded are logistic goods intended for the vessel and the crew; cadavers; and vessels not carrying any cargo/passenger, wherein the vessel master indicates “Nil Cargo/passenger” in the coasting manifest or passenger documents.