Competitiveness of Philippines in global map Essay

0.5% of earth-wide GDP share implies Philippines is unfeignedly an insignificant player in world economic system in basis of economic output, and 95 genius thousand thousands nation, about 1.5% of 7 meg world race, sum current productivity level is scarcely one third of world aver matu tell. This is a typical characteristic of developing Asiatic countries, i.e., high population but low economic production output. However, even if only examine with average of developing Asian countries, including China, India, Indonesia, Malaysia, Pakistan, Sin ranchore, in the south Korea, Sri Lanka, Taiwan, Thailand, Vietnam, the growth of Philippines GDP per capita is settle down significantly lagging behind in the past 20 years, and the gap is continuously widen since 2006.Philippines is at the stage of transitioning from factor driven economy to efficiency driven economy. What is promising for Philippines is that the global ranking of competitiveness among receipts countries is im proving for the last three year, 85 75 65, and indices Macroeconomic environs, Market size are even among the top 40. The indices shew crunch market efficiency, Infrastructure, Health and prime teaching, organization and Innovation are area lagging behind.From the survey data of The intimately problematic factors for doing business in Philippines show disposal corruption, bureaucracy and form _or_ system of government instability are the most problematic issues businessmen are facing, some other than inadequate infrastructure such as road, stable supply of electrical energy etc.I. Trade and Foreign Direct Investment in the Philippines Historic all toldy, the Philippines shit been an important centre for commerce for centuries for its important location in southwest east Asia. Since 1980s, the Philippines have opened their economy to impertinent markets, and established a network of free trade agreements with several countries. Some Philippines Import and exporting In dicators and Statistics are list below Total value of exports US$50.72 billion aboriginal exports commodities semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits Primary exports partners US (17.6 portion of total exports), Japan (16.2 percent), Netherlands (9.8 percent), Hong Kong (8.6 percent), China (7.7 percent), Germany (6.5 percent), Singapore (6.2 percent), South Korea (4.8 percent) Total value of imports US$59.9 billion Primary imports commodities electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic Primary imports partners Japan (12.5 percent of total imports), US (12 percent), China (8.8 percent), Singapore (8.7 percent), South Korea (7.9 percent), Taiwan (7.1 percent), Thailand (5.7 percent)The unite rural areas is one of the Philippines top trading partners. In 2010, according to US plane section of Commerce d ata, trade between the Philippines and US amounts to US$15.4 billion. US is overly the Philippines largest foreign investor, with foreign direct investment close to US$6 billion at the end of 2009.As of 21st century, the nation is process in several international trade organizations including the APEC, ASEAN and WTO, under the new Aquino administration, the government plans to open up the country to more foreign investment in industries such as business processing operations, mining and tourism. However, this move may be hindered by restrictions such a prohibition of foreign monomania of land and public utilities. Also foreign investment was also bear upon by the financial crisis in 2008-2009 period, historical foreign investment data, breakdown by industry and country are listed belowNet inflows of foreign direct investments (FDI) to the Philippines for the first two months of 2012 were $850 meg, three times higher(prenominal) than the $335 million during the same period in 2011, showing a strong convalescence of the foreign investment in Philippines.II. Basic Education SystemThe antecedent basic education system of the Philippines is composed of 6 years of uncomplicated education beginning at the age of 6 or 7, and 4 years of high school education starting at the age of 12 or 13. In this system, high school education is non compulsory. A formal public education system structure is show belowParticipation account for elementary school in 2009 is 89.43%, go up to 89.89% in 2010. As for secondary school, 2009 is 59.86%, go up to 61.26% in 2010. For Kindergarten, 1.65 million children enrolled in 2010, participation rate of 75.72%, grow to 2.04 million, participation rate of 91.67%, in 2011.These numbers are not impressive even compared to Asian developing countries. As the country need to improve overall productivity, higher quality human mental imagery is a must pre-requisite, more resource allocation to education is in top priority list of Philip pines government. Since June 4, 2012, plane section of Education started to implement the new K-12 basic educational system, which includes the new curricula for all schools including one year of kindergarten(for 5 years old), 6 years of primary education, 4 years of junior high school and 2 years of senior high school. In this system, basic education is now compulsory. program implementation in public schools is being done in phases starting SY 20122013. sexual conquest 1 entrants in SY 20122013 are the first batch to fully undergo the program, and current 1st year Junior High civilise students (or Grade 7) are the first to undergo the enhanced secondary education program. First cohort of K to 12 grade 6 and Grade 12 will graduate in 2018.III. community and WorkforcePopulation 103,775,002 (July 2011 est.) Age group 0-14 years 34.6% (male 17,999,279/female 17,285,040) 15-64 years 61.1% (male 31,103,967/female 31,097,203) 65 years and over 4.3% (male 1,876,805/female2,471,644) (2011 est.) Population growth rate 1.873% (2011 est.)Birth rate 24.98 births/1,000 population (2011 est.)Death rate 4.98 deaths/1,000 population (July 2011 est.)Urbanization urban population 49% of total population (2010) Major cities population MANILA (capital) 11.449 millionRelatively young population, due to high birth rate, is one of the rouge force that push Philippines economic growth. This means sufficient young attention force supply to industries and also a big consumer market subscribe for young people.It is estimated that between 9.5 million to 12.5 million Filipinos work or abide abroad, these Overseas Filipino Workers, or OFWs, constitute 11% of the total population. In 2012, the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, expects official remittances from OFWs coursed through banks and agents to grow 5% over 2011 to US$21 billion, but official remittances are only a fraction of all remittances. Remittances by unofficial, including illegal, channels are estimated by to be 30 to 40% higher than the official BSP figure. OFW remittances represent 13.5% of the countrys GDP, the largest in proportion to the domestic economy.Philippines is considered having a highly sure-handed ride force, proficiency in English, and a constant stream of college-educated graduates first appearance the workforce. This attracts many foreign companies to set up operation here. Take one of the fastest growing industries in the country, Call center, as example, Call centers began in the Philippines as plain providers of email response and managing services, these have industrial capabilities for nigh all types of customer relations, ranging from travel services, technical support, education, customer care, financial services, and online business-to-customer support, online business-to-business support. callable to its less expensive operational and labor costs, highly skilled labor force, the Philippines is overtaking India as the largest call center hub in the world.Reference1. humanness Economic Forum. 2012. Global Competitiveness Report_2012-2013. ONLINE gettable at http//www.weforum.org/reports. Accessed 25 November 12. 2. parsimoniousness Watch. 2012. Philippines Trade, Exports and Imports. ONLINE Available at http//www.economy larn.com/world_economy/philippines/export-import.html. Accessed 25 November 12. 3. Department of Trade and Industry, Philippines. 2012. Total authorise Foreign Direct Investments 1996-2009. ONLINE Available at http//www.dti.gov.ph/dti/index.php?p=3. Accessed 25 November 12. 4. Slideshare. 2012. The State of Basic education. ONLINE Available at http//www.slideshare.net/arangkadaph/state-of-education-in-the-philippines-2012. Accessed 26 November 12. 5. Department of Education, Philippines. 2012. The K to 12 Basic Education Program. ONLINE Available at http//www.deped.gov.ph/default.asp. Accessed 26 November 12. 6. World Bank, humans Development Department, 2010. Philippines Ski lls Report, Skills for Labor Market in the Philippines, Report No. 50096-PH, action 2010. 7. Youtube videoPopulation in the Philippines, 2012. Accessed 26 November 12. Available at http//www.youtube.com/ sop up?v=YatkDHzahWw&feature=relmfu. Filipinos Working abroad, 2012. Accessed 26 November 12. Available at http//www.youtube.com/watch?v=At1OVpefZus&feature=relmfu. World Call Center Capital, 2012. Accessed 26 November 12. Available at http//www.youtube.com/watch?feature=endscreen&v=kFBgauGCOEQ&NR=1,