Import-Export Imbalance in the Philippines

Among the many economic problems faced by the Philippines, one is the imbalance of imports and exports. 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 are yet to reach a level of import neutralization.
www.buzzle.com/articles/economic-problems-of-the-philippines.html


Reflection
I can’t grasp why we are acting like a crippled or disabled country if we lack the aid of foreign resources. If we need them, then, why they don’t bother to also seek our assets? There are lot of stuffs that foreign people can buy from us and I will never be blinded with the fact that we are enormously rich but we keep on wasting our possessions!

As I strolled around Uyanguren in Davao city, almost all I saw was made from China and other neighbouring countries. What does it means? I believe it concretely depicts our reliance to the products of aliens. Furthermore, as I tried to inspect the back of my phone, the tag of my blouse and the box of my shoes, I sighed and realized that imbalance rooted from my own choice- the inauthentic option. It’s quite a paradox that I know it’s not really dire to adore products not made in our land but it is also an offense to our “Pinoy Pride.” If this continues, I am afraid we will slowly start to loose the authentic Philippine dignity and eventually, we will all be totally part of the realm of others!

I know for a fact that it’s quite impossible as for the moment not to import fuel from other countries because we are not that blessed with that kind of resource. And, that is the perfect hint. We must focus on products which are merely specialized in our nation so export will race the track of improve effect in our economy. It’s never too late if our government will initiate a project as soon as possible. Let us dream and make it happen. I know it’s worth the cost!