DOMESTIC trade value posted a double-digit decline of 29 percent in the third quarter (Q3) due to lower quantity of some commodities, according to a report from the Philippine Statistics Authority (PSA).
Total goods traded from July to September amounted to only P183.7 billion, as opposed to P258.8 billion in the same period last year. The amount was also lower than the P236.09 billion in Q2 of 2024.
Domestic trade volume was 4.43 million metric tons (MT), a 28.1-percent drop from 6.16 million MT in the same period in 2023.
Mineral fuels, lubricants and related materials comprised the country’s domestic trade volume, accounting for 1.31 million MT or 28.6 percent of total quantity. Food and live animals followed with 785,736 MT (17.7 percent), and machinery and transport equipment, 586,855 MT (13.2 percent).
Among the regions, the highest volume of traded commodities was in Central Luzon at 1.43 million MT or 32.2-percent share of total trade in Q3.
The National Capital Region (NCR) followed with 1.17 million MT, and Northern Mindanao, 381,304 MT.
In terms of value, machinery and transport equipment were highest at P56.5 billion; food and live animals, P32.8 billion; and manufactured goods classified chiefly by material at P23.33 billion.
The NCR also recorded the highest traded value at P75.15 billion during the period (40.9-percent share); Northern Mindanao, P22.75 billion (12.4 percent); and Mimaropa, P22.4 billion (12.2 percent).
The PSA said 99.8 percent of commodities were traded by sea, while the rest were delivered by air.
Central Visayas led in terms of value of inflow at P41.6 billion during the July to September period, while NCR registered the highest favorable trade balance at P60.85 billion.
