Eco Paper
FAR EASTERN UNIVERSITY
Nicanor Reyes Street, Sampaloc Manila City, 1008 Metro Manila
In Partial Fulfillment in
Introduction to Economics
Present:
An Economic Analysis
Submitted by :
Gladys Socia
Jen Chua
Lei Ureta
Nicole Yu
Jihad Taha
Aaron Ogad
Christian Vinas
Charles Oroceo
Nicka Casssandra Jerao
Abbygale Evangelista
Michaela Ronquillo
Abigail Tiongson
Submitted To:
Dr. Darwin Bonifacio
Professor
Date Submitted :
______________________
I. Problem: Import-Export Imbalance
Introduction:
Among the many economic problems faced by the Philippines, the imbalance of imports and exports creates a toll on our development with foreign countries. The negative trade is heavy and only counterbalanced by the service account surplus. Over the last two decades, Philippine exports have shifted from commodity-based products to manufactured goods. However, in the midst of the current global economic recession, the exports of electronics, garments and textiles have yet to reach a level of import neutralization.
Economic Analysis:
Our country produces a variety of different products. But Filipinos don’t give as much patronage to local products as compared to imported goods. If asked, most of our countrymen would prefer purchasing goods from other countries, over products that are domestically grown and produced.
Most countries attempt to achieve a trade balance, in which the flow of imports and exports is relatively equal. If a country exports too much, it may not be able to support its domestic needs, while a country which imports excessive amounts of products may not have enough money to support the high volume of imports. In a country with a trade balance, import and export rates are about equal, with nations exporting excess items for sale, and importing the goods that it needs.
Historically, the Philippines has been an important centre for commerce for centuries for its ethnic minority, namely, the Chinese who were also
Nicanor Reyes Street, Sampaloc Manila City, 1008 Metro Manila
In Partial Fulfillment in
Introduction to Economics
Present:
An Economic Analysis
Submitted by :
Gladys Socia
Jen Chua
Lei Ureta
Nicole Yu
Jihad Taha
Aaron Ogad
Christian Vinas
Charles Oroceo
Nicka Casssandra Jerao
Abbygale Evangelista
Michaela Ronquillo
Abigail Tiongson
Submitted To:
Dr. Darwin Bonifacio
Professor
Date Submitted :
______________________
I. Problem: Import-Export Imbalance
Introduction:
Among the many economic problems faced by the Philippines, the imbalance of imports and exports creates a toll on our development with foreign countries. The negative trade is heavy and only counterbalanced by the service account surplus. Over the last two decades, Philippine exports have shifted from commodity-based products to manufactured goods. However, in the midst of the current global economic recession, the exports of electronics, garments and textiles have yet to reach a level of import neutralization.
Economic Analysis:
Our country produces a variety of different products. But Filipinos don’t give as much patronage to local products as compared to imported goods. If asked, most of our countrymen would prefer purchasing goods from other countries, over products that are domestically grown and produced.
Most countries attempt to achieve a trade balance, in which the flow of imports and exports is relatively equal. If a country exports too much, it may not be able to support its domestic needs, while a country which imports excessive amounts of products may not have enough money to support the high volume of imports. In a country with a trade balance, import and export rates are about equal, with nations exporting excess items for sale, and importing the goods that it needs.
Historically, the Philippines has been an important centre for commerce for centuries for its ethnic minority, namely, the Chinese who were also