Food, live animals drive Philippine trade growth—NSO
By Riza T. OlchondraPhilippine Daily Inquirer
Food and live animal trade drove the growth in domestic trade transactions in the first quarter of 2012, which rose year on year by 4.7 percent, said the National Statistics Office (NSO).
NSO said in a report that 4.73 million tons of commodities flowed through the Philippines’ transport systems in the first quarter of 2012 from 4.51 million tons during the same period in 2011.
The commodities were traded mostly through water transport, which contributed 99.8 percent of trade movements—the same percentage recorded in the first quarter of 2011, NSO said.
In terms of value, commodity flow also increased (by 2.7 percent) to P131.41 billion from P127.91 billion a year ago.
Among the commodities transacted, food and live animals contributed the largest value, amounting to P37.36 billion (28.4 percent). Machinery and transport equipment followed next with P27.76 billion (21.1 percent) while manufactured goods classified chiefly by material followed with P18.12 billion (13.8 percent).
Animal and vegetable oils, fats, and waxes shared the least value of P1.39 billion (1.1 percent).
The story was the same in the first quarter of 2011, according to NSO.
Food and live animals also led that period with a share of 29.8 percent (P38.15 billion) of the total value.
“Data on the inflow and outflow of commodities in the different regions of the country are used to construct interregional and inter-industry relation tables. These serve as bases in the formulation and implementation of various regional development programs like countryside development and port planning,” NSO said in its report.
In the first quarter of 2012, most of the traded commodities emanated from the National Capital Region with value reaching P38.42 billion (29.2 percent of trade), the NSO said.
Central Visayas came in second with P20.36 billion (15.5 percent), followed by Western Visayas with P15.88 billion (12.1 percent), Northern Mindanao with P14.67 billion (11.2 percent), and Central Luzon with P13.23 billion (10.1 percent).
Cagayan Valley, on the other hand, contributed the least to domestic trade with only P144,000 (0.000144 percent).
Follow Us
Recent Stories:
Short URL: http://business.inquirer.net/?p=68023
Tags: food , live animals , Philippines , Trade
