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Trade and Transport

Description
The transportation and logistics industries involve the physical movement of persons and goods. Logistics specifically refers to the transport of the goods, materials, or products, which includes the management of freight, storage, packaging, and inventory. Transport and logistics encompass a wide range of activities and play a vital role in the growth of other sectors of the Philippine economy. Extreme competition and growing international trade highlighted the role of the Service Sector where Transportation, Communication and Storage (TCS) is a component. In 2010, the Service Sector accounted for P3.2B (55%) of the real Gross Domestic Product (GDP) where TCS contributed P428M (13%). The TCS showed the fastest growth of 4.1% for the consecutive years 2008 and 2009. More recently, there has already been a recorded 7.4% increase for the first two quarters of 2011 relative to 2010.

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