Domestic trade expands 47% to P390 B in Q1

The value of commodities traded within the country posted a double-digit growth in the first quarter, according to the Philippine Statistics Authority (PSA).

- LOUELLA DESIDERIO

Preliminary data released by the PSA showed the value of domestic trade jumped by 46.7 percent to P389.42 billion from January to March versus last year’s P265.51 billion.

Almost all of the goods that flowed within the country were traded through water, while the rest were traded through air in the first quarter.

The volume of domestic trade also went up by 19.7 percent to 7.73 million tons in the first quarter from 6.45 million tons in the same quarter in 2023.

“The strong pickup in activity indicates robust economic activity,” ING senior economist Nicholas Mapa said in an email, noting the 5.7 percent gross domestic product growth in the first quarter showed robust consumption and an increase in government outlays.