Philippines and International Trade Essay

What is world(prenominal) trade? International trade is outlined as trade among two or more(prenominal) partners from assorted countries in the exchange of goods and services. In order to understand International trade, we request to first know and understand what trade is, which is the buying and selling of products between different countries. International plow simply globalization the world and alter countries to obtain products and services from other countries effortlessly and expediently. International trade has been in existence throughout history and has an economic impact on the articipating countries.Trade in most countries has a share of the Gross Domestic ware (GDP) and helps to boost the countrys overall prudence on a yearly basis. International Trade for the Philippines is available only to chosen business and companies and is declining, because we import more goods than we export, which affects our countrys economy. Economic development in Philippine economy has been because of high government spending. A hard working service sector and large allowance from millions of Filipinos working abroad played an important fibre in Philippine economic development.Since the former president Macapagal-Arroyo came into power in 2001 there has been an economic growth of 5%. Still, the Philippines occupy a progress increase in growth rate in order to stick up economic growth. More economic development is required to lessen exiguity in the country and address imbalances in distribution of income. It also stresses on high population growth. This paper discusses the uncertain economic status of the Philippines, in terms of its stand in the world market, and its relationship with other countries. The need for new investors and lessen unemployment will be the point of discussion.