Quantity of Domestic Trade Declines, Value Increases
The total quantity of domestic trade transactions in 2005 decreased by 12.9 percent, resulting to 21.45 million tons from 24.61 million tons reported in 2004. The commodities were traded mostly 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 0.6 percent from PhP406.72 billion in 2004 to PhP409.16 billion in 2005. Shipment through water was the major mode of transport with 99.6 percent share (See Figure 2).
Food and Live Animals Lead in Total Domestic Trade Value
Among the commodities that were transacted throughout the country in 2005, food and live animals contributed the largest value amounting to PhP122.40 billion (29.9%). Mineral fuels, lubricants and related materials was next with PhP67.68 billion (16.5%). Machinery and transport equipment followed closely with PhP67.01 billion (16.4%). Animal and vegetable oils, fats and waxes shared the least value of PhP2.56 billion (0.6%) (See Table A).
However, commodity trading in Luzon was dominated by mineral fuels, lubricants and related materials with a share of 29.5 percent (PhP58.00 billion) to the total value of commodities traded in the island group. This was followed by food and live animals with PhP38.84 billion (19.8%). Manufactured goods classified chiefly by material ranked third with PhP25.55 billion (13.0%) (See Table 4).
Meanwhile, the top three commodities in the Visayas, in terms of its contribution to the total value of commodities traded in this island group were food and live animals, machinery and transport equipment, and crude materials, inedible, except fuels with values PhP39.13 billion (34.5%), PhP36.18 billion (31.9%) and PhP7.00 billion (6.2%), respectively (See Table 4).
Moreover, food and live animals topped the list of commodities traded in Mindanao, contributing 44.6 percent (PhP44.42 billion) of the total value of commodities traded in the island group. Manufactured goods classified chiefly by material ranked second sharing 16.2 percent (PhP16.09 billion). This was followed closely by machinery and transport equipment with PhP14.45 billion (14.5%) (See Table 4).
NCR Leads in Value of Domestic Trade
In 2005, NCR accounted for 19.2 percent (PhP78.48 billion) of the total value of domestic trade, the largest share among the regions. This was followed by Central Luzon with transactions amounting to PhP56.88 billion (13.9%). Central Visayas was third, contributing PhP44.97 billion (11.0%). Northern Mindanao was next with PhP40.14 billion (9.8%). Western Visayas followed closely with PhP38.93 (9.5%). Cagayan Valley’s domestic trade contributed the least share with only PhP 1.05 million.
Of the total value of commodities coming from NCR, the major regions of destination were Central Visayas (PhP23.76 billion), Western Visayas (PhP13.82 billion), Davao Region (PhP10.91 billion) and Northern Mindanao (PhP9.67 billion). Commodities traded from NCR were mostly Manufactured Goods Classified Chiefly by Material, amounting to PhP21.12 billion (26.9%) (See Table C2).
Central Luzon Posts the Highest Favorable Trade Balance
Central Luzon recorded the most favorable balance of trade in 2005 at PhP55.43 billion. Other regions which surpassed the billion positive trade balance were CALABARZON (PhP10.72 billion), SOCCSKSARGEN (PhP8.62 billion), Eastern Visayas (PhP6.60 billion), Northern Mindanao (PhP6.07 billion), and Western Visayas (PhP3.80 billion). On the other hand, NCR suffered an unfavorable trade balance of negative PhP28.58 billion.