1. Quantity of domestic trade increased
The total number of domestic trade in the fourth quarter of 2021 was registered at 1.47 million tons. This represents a year-on-year increase of 10.9 percent. In the previous quarter’s year-on-year, it grew by 87.5 percent. In the same quarter of 2020, the annual increase was recorded at 40.4 percent. Almost all (99.9%) of the commodities were traded through water (coastwise), while the rest were traded through air. (Figure 1 and Table A)
2. Central Visayas led in terms of quantity of traded commodities
By region, Central Visayas (Region VII) recorded the highest quantity of traded commodities with 1.5 million tons or 44.2 percent share of the total in the fourth quarter of 2021. This was followed by Bicol Region (Region V) with a quantity of 0.5 million tons (14.7%), and Northern Mindanao (Region X) with 0.3 million tons (9.5%). (Figure 2 and Table 2)
1. Value of domestic trade fall
Domestic trade value is the outflow value which refers to the value of commodities that goes out from a specified region/province to another region/province.
The total value of domestic trade in the fourth quarter of 2021 amounted to PhP22.7 billion. This indicates an annual decrease of -9.1 percent from the PhP25.0 billion value of domestic trade in the same period of 2020.
By mode of transport, the total value of traded commodities through water accounted for almost all (99.9%) of the total commodities that flow within the region, while the remaining were traded through air. (Figure 3 and Table 2)
2. Eastern Visayas recorded the highest value of traded commodities
Among the regions, Eastern Visayas (Region VIII) ranked first with a total value of traded commodities of PhP23.6 billion or 22.3 percent share of the total in the fourth quarter of 2021. This was followed by Central Visayas with PhP22.7 billion (21.5%) traded commodities and Northern Mindanao with PhP18.7 billion (17.6%). (Figure 4 and Table 2)
3. Inflow Value
Inflow refers to the value of commodities that come into a specified region/province from other regions/provinces.
Central Visayas posted an inflow value of domestic trade at PhP14.6 billionn or 13.8 percent of the Philippines’ total inflow value. This indicates an annual decline by 49.0 percent as compared to the PhP28.6 billion inflow value in the fourth quarter of 2020.
By mode of transport, the total inflow value of traded commodities through water accounted for almost all of the total inflows in the region. (Figure 5 and Table 3)
4. Central Visayas recorded a positive trade balance
The trade balance is the difference between the outflow value and inflow value.
Central Visayas recorded a favorable traded balance of PhP8.13 billion in the fourth quarter of 2021 while the recorded trade balance in the third quarter at –PhP9.9 billion.
Moreover, the trade balance in the fourth quarter of the previous year was recorded at -PhP3.6 billion. (Figure 6 and Table 3)
(SGD.) ARIEL E. FLORENDO