NorMin dominates domestic trade in Q2

DAVAO CITY (MindaNews/17 September) – Northern Mindanao registered 1.93 million tons in traded commodities in the second quarter of 2019 to lead all regions in domestic trade during the period, the Philippine Statistics Authority (PSA) said.

The region comprises the provinces of Bukidnon, Camiguin, Misamis Occidental, Misamis Oriental and Lanao del Norte, and the cities of Cagayan de Oro and Iligan.

Tailing Northern Mindanao were Central Luzon with 0.86 million tons and National Capital Region with 0.74 million tons.

Calabarzon  had the lowest output (0.001 million tons).

Northern Mindanao’s domestic trade outflows in the same period were valued at P18.20 billion.

Central Visayas posted the biggest outflow at P19.86 billion while Davao Region’s P540 million was the lowest in the country.

PSA said the total quantity of domestic trade during the second quarter this year reached 5.86 million tons, a 10% decrease from the 6.51 million tons recorded in the same quarter of 2018.

Among the traded commodities, food and live animal commodities accounted for 1.74 million tons, comprising 29.7% of the total exchanged goods. This was followed by animal and vegetable oils, fats and waxes with 0.03 million tons.

In terms of value, domestic trade declined to P177.50 billion in the second quarter of 2019 from the P216.29 billion total value in the same quarter last year, according to PSA.

It said machinery and transport equipment, valued at P64.42 billion, or 36.3% of the total value of domestic trade took the lead, followed by food and live animals (P38.97 billion) and manufactured goods classified chiefly by material (P18.48 billion).

In terms of inflow value of goods, or the total value of commodities that goes into a region, Caraga recorded the highest in the country with P33.44 billion.

Central Visayas (P30.70 billion) and Western Visayas (P22.85 billion) came in second and third highest, respectively. (Antonio L. Colina/MindaNews)