By Kris M. Crismundo
MANILA, Oct 2 (PNA) — Value of commodity flow in the domestic market during the second quarter of the year has increased by 16.4 percent to Php170.2 billion from last year’s same period of Php146.24 billion, the Philippine Statistics Authority (PSA) reported.
This is despite quantity of domestic trade only had a slight growth of 1.2 percent in May to June period.
Domestic trade in Q2 2014 registered a total of 4.87 million tons from Q2 2013’s 4.81 million tons.
Even the truck ban and port congestion in Manila occurred in the Q2 this year, PSA data showed that 99.8 percent of the domestic shipments were via water and one-third of total traded commodities were originated from Metro Manila.
Likewise, regions of major cities in the country including Manila, Cebu, and Cagayan de Oro shared the largest value to the total local shipment transactions in the said quarter.
The National Capital Region has accounted for Php58.48 billion to the total domestic trade in Q2 2014, followed by Central Visayas with Php25.28 billion, and Northern Mindanao with Php17.81 billion.
Food and live animals sector was the largest traded commodity in the local market accounting for 29.2 percent or Php49.65 billion of the total.
Second largest domestically traded commodity in Q2 2014 was machinery and transport equipment with total shipment value of Php38.71 billion and followed by manufactured goods classified chiefly by materials with trade amounting to Php23.72 billion. (PNA)