Domestic trade drops in first quarter

DOMESTIC trade flows in the Philippines dropped nearly a fifth in the first quarter of the year from a year ago, the National Statistics Office (NSO) said. 

The agency said the total quantity of domestic trade transactions from January to March fell 18.9 percent to 3.36 million tons from 4.14 million tons in same period of last year.

Commodity flow or domestic trade refers to the flow of commodities through the water, air and rail transport systems in the country.

The NSO said the commodities were traded mostly through water, comprising 99.8 percent of total, the same level recorded the previous year.

On the other hand, the total value of commodities flowed within the country increased by 1.2 percent to P84.86 billion during the first quarter from P83.86 billion last year.

Shipment through water was the major mode of transport at 99.7 percent and 99.3 percent in the first quarters of 2008 and 2009, respectively.

Among the commodities that were traded, food and live animals contributed the largest value amounting to P27.7 billion.

This was followed by machinery and transport equipment amounting to P15.93 billion; mineral fuels, lubricants and related materials valued at P12.53 billion; animal and vegetable oils, fats and waxes at P1.03 billion.

The NSO said most of the traded commodities in the first quarter came from the National Capital Region with value of domestic trade amounting to P26.64 billion, followed by Western Visayas valued at P15.50 billion; Northern Mindanao P11.73 billion; Central Luzon, P9.77 billion and Cagayan Valley, P18,000.– Darwin G. Amojelar, Manila Times