Domestic Trade Statistics in Bicol Region First Quarter 2021 (Preliminary)

Reference Number: 

2021-021

Release Date: 

Wednesday, August 11, 2021

Highlights of the Domestic Trade Statistics in Bicol Region
First Quarter 2021 (Preliminary)

A.   Quantity

1.    Quantity of domestic trade decline

The Bicol Region’s total quantity of domestic trade in the first quarter of 2021 was recorded at 334.19 thousand tons. This represents an annual decrease of -41.0 percent, from -27.1 percent annual decease in the previous quarter. Almost all (99.9%) of the commodities were traded through water (coastwise) while the rest were traded through air.  (Figure 1 and Table A)

1.    Bicol Region rank fourth with highest quantity of traded commodities

By Region, Bicol Region (Region V) ranked fourth with highest quantity of traded commodities with 0.33 million tons or 7.31 percent share to the total in the first quarter of 2021. Central Visayas recorded the highest with 2.65 million tons or 58.0 percent share. This was followed by Western Visayas (Region VI) with a quantity of 0.50 million tons (10.9%) and Caraga (Region XIII) with 0.35 million tons (7.7%). (Figure 2)

A.   Value

1.    Value of domestic trade decrease

Domestic trade value is the outflow value which refers to the value of commodities that goes out from a specified region/province to another region/province.

The total value of domestic trade of Bicol Region in the first quarter of 2021 amounted to PhP 543.04 million. This indicates a drop of -33.9 percent from the PhP 821.22 million value of domestic trade in the same period of 2020.

By mode of transport, almost all (99.9%) of the total commodities that flow within the region was traded through water, while the remaining were traded through air. (Figure 3)

1.    Bicol Region rank fifth with highest value of traded commodities

Among the regions, Bicol Region (Region V) ranked fifth with a total value of traded commodities with PhP 5.43 billion or 5.51 percent share to the total in the first quarter of 2021. Eastern Visayas ranked first with PhP25.70 billion or 26.90 percent share.  Central Visayas (Region VII) followed with traded commodities amounted to PhP 20.41 billion (21.4%), Western Visayas (Region VI) with PhP 19.82 billion (20.8%), and Northern Mindanao (Region X) with PhP 14.41 billion (15.09%). (Figure 4)

1.    Bicol Region rank eight with inflow value of domestic trade

Inflow refers to the value of commodities that come into the specified region/province from other regions/provinces.

By region, Bicol Region (Region V) ranked eight with highest inflow value of domestic trade of PhP 2.6 billion or 2.7 percent share to the total in the first quarter of 2021. Northern Mindanao (Region X) posted the highest inflow value of domestic trade of PhP 24.73 billion (25.9%). This was followed by Central Visayas (Region VII) with inflow value of Php 14.00 billion (14.7%), Western Visayas (region VI) with PhP 13.99 billion (14.7%), BARMM with PhP 8.77 billion (9.2%), Eastern Visayas (Region VIII) with 8.47 billion (8.9%), Calabarzon (Region IVA) with PhP 8.47billion (8.9%) and Zamboanga Peninsula (Region IX) with PhP 4.20 billion (4.4%). On the other hand, Cagayan Valley (Region II) had the lowest inflow value which amounted to PhP 1.50million. (Figure 5)

1.    Bicol Region rank 4th with the highest trade balance

The Trade balance is the difference between the outflow value and inflow value.

1.    Eastern Visayas (Region VII(, PhP 17.24 billion;

2.    Central Visayas (Region VII), PhP 6.40 billion;

3.    Western Visayas (Region VI), PhP 5.83; and

4.    Bicol Region (Region V), PhP 2.84 billion.

On the other hand, top three regions with unfavorable or negative trade balances in the first quarter of 2021 were the following:

1.    Northern Mindanao (Region X), PhP -10.32 billion;

2.    NCR, PhP -9.71 billion;

3.    BARMM, PhP -7.96 billion; and

4.    CALABARZON (Region IVA) -4.19 billion

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