THE volume of domestic trade contracted 20.1 percent in 2022, according to the Philippine Statistics Authority (PSA).
The data showed the quantity of domestic trade declined to 18.63 million tons in 2022 from 23.31 million tons recorded in 2021.
The total value of domestic trade in 2022, meanwhile, amounted to P845.5 billion. This indicated an increase of 13.3 percent from the P746.36 billion value of domestic trade in 2021.
“Domestic trade value refers to the outflow value of commodities transported from the region/province of origin to another region/province of destination,” the PSA said.
By commodity, the PSA said food and live animals led in terms of quantity of domestic trade in 2022 with 4.16 million tons, or a share of 22.3 percent to the total domestic trade.
This was followed by mineral fuels, lubricants and related materials with 3.6 million tons or 19.3 percent and manufactured goods classified chiefly by material with 3.14 million tons or 16.9 percent.
By region, Central Visayas registered the highest quantity of traded commodities with 3.93 million tons or 21.1 percent share to the total domestic trade in 2022.
This was followed by Central Luzon with a quantity of 3.69 million tons or 19.8 percent and the National Capital Region (NCR) with 3.3 million tons or 17.7 percent.
In terms of value, PSA data showed machinery and transport equipment topped in terms of value of traded commodities with P265.06 billion or 31.3 percent share to the total domestic trade value in 2022.
This was followed by food and live animals valued at P188.97 billion or 22.4 percent of the total and manufactured goods classified chiefly by material, which amounted to P149.23 billion value of traded commodities or 17.7 percent.
Among the regions, NCR topped with P215.96 billion value of traded commodities or 25.5 percent of the total value of traded commodities in 2022.
This was followed by Central Visayas with traded commodities amounting to P156.35 billion or 18.5 percent of the total, followed by Western Visayas with P136.46 billion or 16.1 percent.
Meanwhile, PSA said that by region, Central Visayas posted the highest inflow value of domestic trade at P193.16 billion or 22.8 percent share to the total inflow of domestic trade in 2022.
This was followed by Caraga with an inflow value of P137.8 billion or 16.3 percent and Western Visayas with P135.63 billion, or 16 percent of the total.
The data also showed Cagayan Valley recorded the lowest inflow value, which amounted to P0.01 billion in 2022.
