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economics 4th Q
Industrial
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Food
is the most significant contribution of agriculture to the economy.
Industrial
sector
is the dimension of the economy that turns out products for intermediate or final consumption.
Consumer
goods and
capital
goods are the forms of industrial products.
the industrial sector is the
second
biggest contributor to the country's gross
national
product and gross
domestic
products
The important components of the philippine industrial sector are
Manufacturing
,
construction
,
Mining
and
quarrying
,
electricity
,
gas
,
and
water
Manufacturing
is the chemical transformation of organic or inorganic matters into finished products.
in 2011, manufacturing provided jobs to more than
3
million
people
from
2006
to 2011, Manufacturing's total production averaged close to
1.75
trillion
pesos
Manufacturing
is also a major employer in the economy
Construction
builds infrastructure like roads, bridges and buildings which generate all facilitate investments
construction is the
second
biggest employer, providing jobs to more than
2.1
million
people in 2011.
gross value
is the total worth of the goods and services produced by the sector in the economy during a given period.
Gross
value
added
is the difference between the gross output and intermediate inputs.
intermediate
inputs
refer to the value of goods and services used in production process
Mining
and
quarrying
refers to the extraction of metallic and nonmetallic minerals on and beneath the surface of the earth.
these minerals are principal raw materials for
manufacturing
and construction
Electricity,
Gas
, and
water
are the basic public utilities
as of 2011, there were about
148
,
000
laborers working in the electricity, gas and water utilities industry
The Philippines
does
not
import all its energy requirements. It as indigenous sources of energy.
Hydro
and
Geothermal
are its major conventional energy sources
also, it has oil wells like
Nido
,
Matinloc
,
North Mantiloc
,
West Linapacan
,
Malampaya
, and
Galoc
Its major Gas deposits are
San antonio
and
malampaya