Quantity of domestic trade declines, value increases
The total quantity of domestic trade transactions in 2004 decreased by 9.1 percent, resulting to 24.61 million tons from 27.07 million tons reported in 2003. Most of the commodities were shipped through water, comprising 99.8 percent of the total domestic trade quantity. (See Figure 1)
On the other hand, the total value of commodities that flowed within the country increased by 15.0 percent from PhP353.68 billion in 2003 to PhP406.72 billion in 2004. The value of commodities traded by water amounted to PhP404.64 billion (99.5%) of the total domestic trade value. (See Figure 2)
Food and live animals dominates total domestic trade value
Among the commodities that flowed throughout the country in 2004, food and live animals contributed the largest value amounting to PhP118.54 billion (29.1%). Mineral fuels, lubricants and related materials was next with PhP71.07 billion (17.5%). Machinery and transport equipment followed closely with PhP68.96 billion (17.0%). Animal and vegetable oils, fats and waxes shared the least value of PhP3.44 billion (0.8%) (See Table A).
However, commodity trading in Luzon was dominated by Mineral Fuels, Lubricants and Related Materials with a share of 32.5 percent (PhP61.65 billion) of the total value of commodities traded in the island group. This was followed by Food and Live Animals with PhP34.14 billion (18.0%). Manufactured Goods Classified Chiefly by Material ranked third with PhP24.69 billion (13.0%) (See Table 4).
Meanwhile, the top three commodities in the Visayas were Machinery and Transport Equipment, Food and Live Animals, and Manufactured Goods Classified Chiefly by Material with values PhP41.36 billion (34.6%), PhP38.69 billion (32.4%) and PhP10.40 billion (8.7%), respectively (See Table 4).
Moreover, Food and Live Animals topped the list of commodities traded in Mindanao, contributing 46.7 percent (PhP45.71 billion) of the total value of commodities traded in the island group. Machinery and Transport Equipment ranked second sharing 13.4 percent (PhP13.08 billion). This was followed closely by Manufactured Goods Classified Chiefly by Material with PhP12.07 billion (12.3%) (See Table 4).
National Capital Region (NCR) contributes the largest value of domestic trade
Most of the traded commodities in 2004 came from NCR, with value of domestic trade amounting to PhP88.76 billion (21.8%). Central Luzon came second with PhP65.71 billion (16.2%). This was followed by Central Visayas with PhP49.43 billion (12.2%). Cagayan Valley s domestic trade contributed the least share with only PhP145 thousand.
Of the total value of commodities coming from NCR, the major regions of destination were Central Visayas (PhP23.48 billion), Western Visayas (PhP18.52 billion), Davao Region (PhP12.00 billion) and Northern Mindanao (PhP10.61 billion). Commodities traded from NCR were mostly Manufactured Goods Classified Chiefly by Material, amounting to PhP22.23 billion (25.0%) (See Table C1).
Central Luzon posts the highest favorable trade balance
In 2004, Central Luzon posted the most favorable balance of trade at PhP64.08 billion. Four other regions recorded more than a billion positive trade balances namely: SOCCSKSARGEN (PhP11.68 billion), Eastern Visayas (PhP8.27 billion), MIMAROPA (PhP5.68 billion), and Northern Mindanao (PhP3.29 billion). On the other hand, NCR suffered an unfavorable trade balance of negative PhP22.29 billion.