Composition By Sector
As a newly industrialized country, the Philippines is still an economy with a large agricultural sector; however, services have come to dominate the economy. Much of the industrial sector is based on processing and assembly operations in the manufacturing of electronics and other high-tech components, usually from foreign multinational corporations.
Filipinos who go aboard to work–-known as Overseas Filipino Workers or OFWs—are a significant contributor to the economy but are not reflected in the below sectoral discussion of the domestic economy.
Read more about this topic: Economy Of The Philippines
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“I live in the angle of a leaden wall, into whose composition was poured a little alloy of bell-metal. Often, in the repose of my mid-day, there reaches my ears a confused tintinnabulum from without. It is the noise of my contemporaries.”
—Henry David Thoreau (1817–1862)