By Antonio L. Colina IV
DAVAO CITY – 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 highest nationwide, a report of the Philippine Statistics Authority (PSA) said.
The report said the Northern Mindanao, comprising 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 7th highest in the country.
The Northern Mindanao tailed behind Central Visayas with 1.20 million tons and Central Luzon with 1.01 million tons. The first quarter domestic trade of other regions are: 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.
It can be recalled that 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 in the country, last year.
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 of last year.
It added 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 the country.
In terms of volume, it said food and live animals commodities were the most traded at 1.36 million tons, comprising 26.5 percent share of the total quantity of domestic trade while animal and vegetable oils, fats and waxes were the least 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 the food and live animals posted only P41.38 billion and manufactured goods came at P24.77 billion.
Other top commodities included Mineral fuels, lubricants and related materials, P15.38 billion; Miscellaneous manufactured articles, P10.66 billion; Chemical and related products, P9.18 billion; Beverages and Tobacco, P7.72 billion; Crude materials, inedible except fuels, P4.63 billion; Commodities and transactions, P4.36 billion; and Animal and vegetable oils, fats and waxes, P1.14 billion.