Traded goods within PH down in Q4
MANILA, Philippines - Volume of commodity flow within the country plunged in the 4th quarter of 2012 from a year ago, latest data from the National Statistics Office (NSO) showed.
Traded commodities — mostly shipped via water transport — dropped by 8.6% to 5.04 million tons from 5.52 million tons transacted in the fourth quarter of 2011.
Food and live animals, which accounted for the biggest segment of domestic trade volume at 28.63% of the total, was the biggest loser. It dropped by 36.60% to 1.4 million tons from 2.3 million tons the previous year.
The goods were valued at P141.76 billion, a 13.6% increase from the P124.84 billion posted in the previous year. Food and live animals remain the top contributor to the total domestic value.
A weaker domestic trade does not necessarily point to a weaker economy — the gross domestic product grew by 6.8% in that period. The decline may reflect an economic activity focused more on international trade.
Merchandise exports in October, November and December 2012 reported year-on-year growths at 6.1%, 5.5% and 13.2%, respectively.
The National Capital Region was the top source of commodities, with outflows amounting to P43.76 billion. The region posted a trade surplus of P16.39 billion.
Central Visayas was the top destination — inflows amounted to P22.8 billion, yielding a trade deficit of P500 million. - Rappler.com