Data from the National Statistics Office (NSO) showed the volume of domestic trade transactions during the third quarter increased but value declined compared to the same period last year. The NSO data also showed that most of the traded commodities in the third quarter of this year originated from Northern Mindanao, accounting for 16.8 percent of the total. The value was placed at P15.78 billion.

“Mindanao is export-oriented. Northern Mindanao is the gateway to Mindanao,” Planning Secretary Cayetano Paderanga Jr. said.

Domestic trade refers to the flow of commodities through water, air, and land.

“These (figures) serve as bases in the formulation and implementation of various regional development programs like countryside development and port planning,” NSO said.

The lower value of trade was traced to lower prices for food and live animals.

Food and live animals made the largest contribution to domestic trade at P25.84 billion, accounting for 27.4 percent of the total share. The value of these commodities was down 6.3 percent from the same quarter last year.

Machinery and transport equipment came in second (23.5 percent share) with P22.17 billion, up 16.8 percent.

Mineral fuels, lubricants and related materials followed with a share of 16.9 percent. These commodities were valued at P15.94 billion, up by 7.4 percent.

Eastern Visayas was second with P13.62 billion (14.5 percent). Central Luzon was next with P12.54 billion (13.3 percent), followed by National Capital Region (NCR) with P12.42 billion (13.2 percent).

During the third quarter of last year, NCR had the highest domestic trade share at P26.2 billion or 27.1 percent of the total trade. Northern Mindanao was fifth, accounting for 9.13 percent of the total trade with P8.82 billion.

Cagayan Valley remained as the region with the least share of P73,000 for the third quarter. In the third quarter of 2009, Cagayan Valley accounted for P19,000.

“In the third quarter of 2010, Central Luzon posted the most favorable trade balance at P12.05 billion,” NSO said.

“On the other hand, NCR suffered an unfavorable trade balance of negative P9.12 billion compared to positive trade balance posted for the same period last year,” NSO added.

Commodities were traded mostly via the sea water –99.8 percent of volume and 99.3 percent of value.

article from Malaya

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