Manila (Philippine Daily Inquirer/ANN) -
Food and live animal trade drove the growth in domestic trade transactions in the first quarter of 2012, which rose year on year by 4.7 percent, said the National Statistics Office (NSO).
NSO said in a report that 4.73 million tons of commodities flowed through the Philippines¿ transport systems in the first quarter of 2012 from 4.51 million tons during the same period in 2011.
The commodities were traded mostly through water transport, which contributed 99.8 percent of trade movements¿the same percentage recorded in the first quarter of 2011, NSO said.
In terms of value, commodity flow also increased (by 2.7 percent) to 131.41 billion pesos (US$3 billion) from 127.91 billion pesos ($3.01 billion) a year ago.
Among the commodities transacted, food and live animals contributed the largest value, amounting to 37.36 billion pesos (28.4 percent). Machinery and transport equipment followed next with 27.76 billion pesos (21.1 percent) while manufactured goods classified chiefly by material followed with 18.12 billion pesos (13.8 percent).
Animal and vegetable oils, fats, and waxes shared the least value of 1.39 billion pesos (1.1 percent).
The story was the same in the first quarter of 2011, according to NSO.
Food and live animals also led that period with a share of 29.8 percent (38.15 billion pesos) of the total value.
¿Data on the inflow and outflow of commodities in the different regions of the country are used to construct interregional and inter-industry relation tables. These serve as bases in the formulation and implementation of various regional
development programs like countryside development and port planning," NSO said in its report.
In the first quarter of 2012, most of the traded commodities emanated from the National Capital Region with value reaching 38.42 billion pesos (29.2 percent of trade), the NSO said.
Central Visayas came in second with 20.36 billion pesos (15.5 percent), followed by Western Visayas with 15.88 billion pesos (12.1 percent), Northern Mindanao with 14.67 billion pesos (11.2 percent), and Central Luzon with 13.23 billion pesos (10.1 percent).
Cagayan Valley, on the other hand, contributed the least to domestic trade with only 144,000 pesos (0.000144 percent).