THE growth of the country’s total quantity of domestic trade transactions in the second quarter of 2014 registered the slowest rate since 2008, when it grew by only 1 percent, preliminary data recently released by the Philippine Statistics Authority (PSA) showed.
The country’s total quantity of domestic trade transactions reached 4.87 million tons from 4.81 million tons reported in the same period of last year.
“The commodities were traded mostly through water comprising 99.8 percent, the same percentage recorded in the second quarter of 2013,” the PSA said.
Data showed that commodities that were traded through water reached 4.8 million tons, lower than the 4.85 million tons posted a year ago and the 5.12 million tons posted in the first quarter of the year.
The PSA also said commodities that were shipped domestically via air freight increased to 10,105 tons in the second quarter, higher than the 8,966 tons in the same period last year and 8,298 tons in the first quarter this year.
There were also no commodities shipped via rail during the quarter. The PSA said there were also no rail transaction in the second quarter of 2013 and the first quarter of 2014.
Meanwhile, the PSA said there was a 16.4-percent increase in the total value of commodities that flowed within the country in the second quarter.
Data showed the total value of commodities traded in the country amounted to P170.20 billion in the same period of 2014, from P146.24 billion in the second quarter of 2013.
“Shipment through water was the principal mode of transport in the second quarter of 2014, comprising 99.7 percent, the same percentage recorded in the second quarter of 2013,” the PSA said.
Data also showed that food and live animals contributed the largest share among the commodities transacted throughout the country in the second quarter of 2014, amounting to P49.65 billion, or 29.2 percent of the total.
This was followed by machinery and transport equipment with P38.71 billion, or 22.7 percent, and manufactured goods classified chiefly by materials with P23.72 billion, or 13.9 percent.
Further, the PSA said animal and vegetable oils, fats and waxes had the least value of P2.14 billion, or 1.3 percent.