Davao Region posts 34.2% growth in domestic commodity trade

DAVAO CITY (MindaNews / 27 February) – Davao Region posted a 34.2-percent growth in the quantity of domestic commodities traded in the fourth quarter of last year, the highest among the six regions in Mindanao, the Philippine Statistics Authority said.

The region traded a total of 163.140 million metric tons compared to 121.586 million MT in the same quarter of 2018.

The Davao Region. Map courtesy of Google

Data also showed that the domestic trade value in the region increased 31.9-percent, from P4.3 billion in the fourth quarter of 2018 to P5.7 billion recorded in the same period last year.

Domestic trade value is equal to the outflow value which refers to the value of commodities that goes out from a specified region or province, according to PSA.

Zamboanga Peninsula’s domestic trade increased by 2.96-percent, growing to 43.630 million MT in the fourth quarter from 42.374 million MT in the same period of 2018.

But domestic trade in other regions in Mindanao recorded a decrease in the fourth quarter of 2019 compared to the same period of 2018.

Northern Mindanao recorded the biggest drop for the same periods being compared, from 3.29 million MT to 391.871 MT; Soccsksargen, 72.947 million MT from 138.791 million MT; and Caraga, 152.340 million MT from 236.406 million MT.

No data were provided for the Bangsamoro Autonomous Region in Muslim Mindanao for 2019 but it posted 41.015 million MT in domestic trade in the fourth quarter of 2018.

According to the PSA, the total quantity of domestic trade during the fourth quarter of 2019 decreased to 3.95 million tons or by 45.4 percent, from 7.24 million tons in the same quarter a year ago. Almost all or 99.8 percent of the commodities were traded through water and the rest through air.

By commodity section, food and live animals topped in the fourth quarter of 2019 with 1.21 million tons or 30.5 percent share to the total. It was followed by commodities and transactions not classified elsewhere in the Philippine Standard Commodity Classification, and mineral fuels, lubricants and related materials with 0.63 million tons (15.9 percent) and 0.54 million tons (13.8 percent), respectively. (Antonio L. Colina IV/MindaNews)