Quantity of domestic trade increased by 62.8 percent

The total quantity of domestic trade in the third quarter of 2024 was registered at 130.27 million tons, marking a significant annual increase of 62.8 percent compared to the 80.00 million tons recorded quantity during the same quarter of 2023.

Most commodities (75.1 percent) were pigs, hogs, or boars bristles and hair; badger hair and other brush making hair; waste of such bristles or hair. (Figure 1)

Top three commodities with the highest quantities in domestic trade for the third quarter of 2024

In the third quarter of 2024, pigs, hogs, or boars bristles and hair; badger hair, and other brush making hair; waste of such bristles or hair ranked first in terms of domestic trade quantity, reaching 97.87 million tons or share of 75.1 percent of the total domestic trade. This was followed by cereal straw and husks, unprepared, whether chopped, ground, pressed, or in the form of pellets with 8.10 million tons (6.2 percent), and rice, semi-milled or wholly milled, whether or not polished, glazed, parboiled or converted (excluding broken rice) with 6.00 million tons (4.6 percent).

B. Value

Value of domestic trade increased by 304.4 percent

Domestic trade value refers to the outflow value of commodities transported from the origin province to another destination province.

In the third quarter of 2024, the total value of domestic trade amounted to PhP 21,093.57 billion, reflecting a remarkable annual increase of 304.4 percent compared to the PhP 5.22 billion recorded in the same period of 2023.

The majority of the traded commodities (93.8 percent) consisted of pigs', hogs' or boars' bristles and hair; badger hair and other brush making hair; waste of such bristles or hair. (Figure 3)

Top three commodities with the highest values in Domestic Trade for the third quarter of 2024

Pigs', Hogs' or Boars' Bristles and Hair; Badger Hair and Other Brush Making Hair; Waste of Such Bristles or Hair accounted for the highest value share in domestic trade during the third quarter of 2024, amounting to PhP 19,794.81 billion or 93.8 percent of the total trade value. This was followed by Rice, Semi-Milled or Wholly Milled, Whether or Not Polished, Glazed, Parboiled, or Converted (Excluding Broken Rice) with a trade value of PhP 359.70 million (1.7 percent), and Goats, Live which recorded PhP 170.50 million (0.8 percent) during the same period (Figure 4).

CHARLYN ROMERO-CANTOS, PhD
(Chief Administrative Officer)
Officer-in-Charge
Oriental Mindoro Provincial Statistical Office

HTD/DAP

TECHNICAL NOTES

DEFINITION OF TERMS

Domestic trade statistics refer to the movement of commodities in the country.

Trade balance refers to the difference between outflow and inflow, that is, outflow minus inflow. A positive value indicates a favorable trade balance, while a negative value indicates an unfavorable trade balance.

Inflow refers to the total value of commodities that enter a specified region/province.

Outflow refers to the total value of commodities that come out from a specified region/province.

Port/Station of origin refers to the port or station where the cargo originally came from.

Port/Station of destination refers to the port or station where the cargoes are destined for.

Region of origin refers to the regional location of the port or station where the cargo originally came from.

Region of destination refers to the regional location of the port or station where the cargoes are destined for.