Central Visayas logs highest quantity of traded commodities in 2021

·3 min read

The total quantity of domestic trade in 2021 was recorded at 20.22 million tons. This represents an annual increment of 24.6 percent, from a -37.3 percent annual decrease in 2020, according to the latest report by the Philippine Statistics Authority (PSA).

Almost all of the commodities were traded through water (coastwise), while the rest were traded through air.

By commodity section, the PSA said the manufactured goods classified chiefly by material led in terms of quantity of domestic trade in 2021 with 5.54 million tons or a share of 27.4 percent of the total. This was followed by food and live animals with 4.68 million tons (23.1 percent) and commodities and transactions not elsewhere classified with 3.05 million tons.

By region, Central Visayas recorded the highest quantity of traded commodities with 7.06 million tons or 34.9 percent share of the total in 2021. This was followed by the National Capital Region (NCR) with a quantity of 3.22 million tons (15.9 percent) and Bicol Region with 2.18 million tons (10.8 percent).

Domestic trade value is the outflow value which refers to the value of commodities that goes out from a specified region/province to another region/province.

Total value

The total value of domestic trade in 2021 amounted to P718.44 billion. This indicates an expansion of 21.6 percent from the P590.66 billion value of domestic trade in 2020.

By mode of transport, the total value of traded commodities through water accounted for almost all of the total commodities that flowed within the country, while the remaining were through air.

Machinery and transport equipment topped in terms of the value of traded commodities with P200.55 billion or 27.9 percent share of the total. This was followed by food and live animals valued at P171.36 billion (23.9 percent) and manufactured goods classified chiefly by material which amounted to P160.23 billion (22.3 percent).

Among the regions, NCR ranked first with a total value of traded commodities of P198.17 billion or 27.6 percent share of the total in 2021. Eastern Visayas came next with traded commodities amounting to P119.76 billion (16.7 percent), followed by Western Visayas with P117.53 billion (16.4 percent).

Inflow value

As for the inflow value, Central Visayas posted the highest inflow value of domestic trade of P135.54 billion or 18.9 percent share of the total in 2021. This was followed by Caraga with an inflow value of P133.82 billion (18.6 percent) and Western Visayas with P113.64 billion (15.8 percent). On the other hand, Cagayan Valley had the lowest inflow value which amounted to P5.80 million.

Inflow refers to the value of commodities that enters a specified region/province from other regions/provinces.

Meanwhile, the top three regions with favorable domestic trade balances in 2021 were the NCR at P130.32 billion; Eastern Visayas (P61.71 billion); and Northern Mindanao (37.62 billion).

On the other hand, the top three regions with unfavorable domestic trade balances in 2021 were Caraga (P-115.16 billion); Central Visayas (P-37.60 billion; and Davao Region (P-30.23 billion).

The trade balance is the difference between the outflow value and inflow value.

Outbound passengers

Moreover, the total number of outbound passengers in 2021 was registered at 5.19 million, which were all transported via water (coastwise). This indicates a contraction of -28.6 percent from the 7.28 million passengers in 2020.

Bicol Region recorded the highest number of passengers in 2021 with 1.22 million. This was followed by Western Visayas with 1.02 million passengers, and Central Visayas with 0.92 million passengers.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting