Domestic trade up 2.7% in 1st quarter

The value of goods traded within the country in the first quarter of 2012 rose by 2.7 percent year on year to P131.4 billion, from P127.9 billion, amid a surge in the growth of gross domestic product.

Data from the National Statistics Office showed that the volume of shipments also increased, growing by 4.7 percent to 4.73 million tons, from 4.51 million tons in the same quarter of 2011.

NSO data on the flow of commodities across the country are used as basis in the formulation and implementation of various regional development programs like countryside development and port planning.

From January to March this year, when the growth of total domestic output, or GDP, came in at 6.4 percent, 99.8 percent of the volume of goods was moved by water transport.

In terms of value, commodities moved by watercraft accounted for 99.6 percent of total during the quarter.

Of all goods traded in the first quarter, food and live animals contributed the largest value at P37.36 billion, or 28.4 percent of total.

The National Capital Region accounted for the biggest share of goods traded, sending out P38.42 billion or 29.2 percent of total.