Agency: Region 11 registers positive trade balance in Q1

TIWH the improvement of outflow and inflow of goods, Davao Region’s trade balance in the first quarter posted positive at P616.30 million compared with the figure during the same period a year ago, data from the Philippine Statistics Authority (PSA) bared.

Data from PSA showed that the region’s trade balance improved from registering a negative performance in the first quarter last year at P649.70 million. This was based on the outflow and inflow of commodities.

As of the first quarter, Davao Region along with other eight regions in the country registered positive trade balances. The frontrunner was Eastern Visayas with a trade balance of P16.55 billion followed by National Capital Region at P12.60 billion.

The other regions with favorable trade balance as of the January to March are Central Luzon with P8.68 billion, Central Visayas with P4.25 billion, Autonomous Region in Muslim Mindanao at P1.48 billion, Western Visayas with P1.31 billion, Soccsksargen with P1.20 billion and Bicol Region with P207.65 million.

The trade balance, PSA said in a statement, is the difference between outflow and inflow.

“Outflow refers to the total value of commodities which goes out of the specified region or province while Inflow refers to the total value of commodities coming in the specified region,” PSA said.

The data on the outflow and inflow of commodities are carved on the domestic trade statistics compiled by the agency. The agency defined commodity flow or domestic trade statistics as a compilation of data on commodities carried through air, rail, and water transport systems in the country.

“Data on the inflow and outflow of commodities in the different regions of the country are used to construct inter-regional and inter-industry relation tables,” PSA said. (KMF)

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