North Mindanao leads in domestic trade for Q1

The five-province Northern Mindanao recorded a total of 790,000 tons of commodities exchanged in the domestic market during the first quarter of 2018, the highest in Mindanao and the third nationwide, a report of the Philippine Statistics Authority (PSA) released Monday said.

The report said Northern Mindanao – composed of Bukidnon, Camiguin, Lanao del Norte, Misamis Occidental, and Misamis Oriental – was followed only by the Davao Region (Compostela Valley, Davao del Norte, Davao Oriental, Davao del Sur, and Davao Occidental provinces and Davao City) which posted only 170,000 tons in the domestic trade, the 7thhighest in the country.

Central Visayas topped nationwide with 1.2 million tons, followed by Central Luzon with 1.01 million tons.

The first quarter domestic trade of other regions: Western Visayas, 580,000; National Capital Region (NCR), 530,000; Eastern Visayas, 270,000; Bicol Region, 120,000; Soccsksargen, 110,000; Calabarzon, 80,000; Caraga, 70,000; Autonomous Region in Muslim Mindanao (ARMM), 50,000; and Mimaropa, 20,000.

The whole of last year, Northern Mindanao accounted for 22 percent (1.42 million tons) of the total quantity of all traded commodities in the domestic market, the highest among all regions.

According to PSA, the total quantity of goods exchanged domestically during the first quarter of the year increased by 5.4 percent to 5.11 million tons from 4.85 million tons of the same period last year.

It added that the value of domestic trade amounted to P174.88 billion, which increased by 6.14 percent from P164.77 billion in the first quarter of 2017.

In terms of volume, the PSA said food and live animals commodities were the most traded at 1.36 million tons, comprising a 26.5-percent share of the total quantity of domestic trade. The least traded, on the other hand, were animal and vegetable oils, fats and waxes, at 20,000 tons nationwide.

The agency reported that domestic trade value of machinery and transport equipment was at P55.62 billion, comprising 31.8 percent of the total value of domestic trade, while food and live animals posted only P41.38 billion and manufactured goods came at P24.77 billion. (MINDANEWS)