Domestic trade slowed 28.1 percent to 4.43 million tons in the third quarter of 2024 from 6.16 million tons a year ago, according to the Philippines Statistics Authority.
This followed the 22-percent drop in the second quarter, based on the preliminary results of the Domestic Trade Statistics for the third quarter of 2024.
Domestic trade refers to the flow of commodities transported from a region/province of origin to another destination.
The PSA said 99.8 percent of the commodities were traded through water, while the rest were traded through air in the third quarter of 2024.
By commodity section, mineral fuels, lubricants and related materials led in terms of quantity of domestic trade with 1.27 million tons or a share of 28.6 percent to the total domestic trade in the third quarter.
This was followed by food and live animals with 0.79 million tons (17.7 percent) and machinery and transport equipment with 0.59 million tons (13.2 percent).
By region, Central Luzon registered the highest quantity of traded commodities with 1.43 million tons or 32.2 percent. This was followed by National Capital Region (NCR) with 1.17 million tons (26.5 percent) and Northern Mindanao (Region X) with 0.40 million tons (8.9 percent).
The PSA said the total value of domestic trade reached P183.73 billion in the third quarter, representing a decrease of 29.0 percent from P258.86 billion a year earlier.
Machinery and transport equipment topped in terms of value of traded commodities with P56.50 billion or 30.8 percent share of the total in the third quarter. This was followed by food and live animals at P32.83 billion (17.9 percent) and manufactured goods classified chiefly by material at P28.33 billion (15.4 percent).
Among the regions, NCR topped with P75.15 billion in terms of value of traded commodities or 40.9 percent of the total.
This was followed by Northern Mindanao (Region X) with traded commodities amounting to P22.75 billion (12.4 percent) and MIMAROPA Region with P22.41 billion (12.2 percent).
By region, Central Visayas (Region VII) posted the highest inflow value of domestic trade at P41.60 billion or 22.6 percent of the total.
This was followed by CALABARZON with P24.11 billion (13.1 percent) and Caraga with P23.63 billion (12.9 percent).
Three regions posted positive domestic trade balances in the third quarter of 2024, led by NCR with P60.85 billion; MIMAROPA, with P13.62 billion; and Central Luzon with 13.45 billion.
