MANILA – The volume and value of local trade posted double-digit growth in the first quarter of the year, the Philippine Statistics Authority (PSA) reported.
Data released late Monday showed that the value of domestic trade amounted to PHP199.72 billion, up by 46.7 percent from the PHP136.18 billion a year ago.
By mode of transport, almost all of the commodities were traded through water, while the remaining were traded through air.
"Machinery and transport equipment topped in terms of value of traded commodities with PHP68.24 billion or 34.2 percent share to the total domestic trade value in the first quarter of 2023," PSA said.
This was followed by food and live animals and manufactured goods classified chiefly by material.
Among the regions, Western Visayas recorded the highest value of traded commodities with PHP44.70 billion, followed by Central Visayas with PHP42.90 billion and Eastern Visayas with PHP26.01 billion.
In terms of volume, the PSA said total quantity of domestic trade in in the first quarter reached 5.34 million tons, higher by 56.7 percent from last year's 3.41 million tons.
"By commodity section, food and live animals led in terms of quantity of domestic trade in the first quarter of 2023 with 1.31 million tons or a share of 24.6 percent to the total domestic trade," PSA said.
This was followed by mineral fuels, lubricants and related materials with 1.25 million tons and machinery and transport equipment with 1.04 million tons.
Central Luzon registered the highest quantity of traded commodities with 1.29 million tons or 24.1 percent share to the total domestic trade in the first quarter of 2023.
This was followed by Central Visayas with 1 million tons and Western Visayas with 660,000 metric tons. (PNA)
