Industrial Sector Flashcards
Employment generation
As of 2019, almost 20% of
the country’s labor force works in the industrial sector.
Contribution to National Output
products from this
sector make up 28.4% of the GDP (2019) and can also
be sold in foreign markets.
Manufacturing
the processing of raw materials into
finished products by means of small-scale or large-scale industrial operation. It produces consumer
goods like food and clothing, as well as capital goods like machinery and equipment.
Construction
responsible for building, maintaining,
and repairing structures or infrastructures like houses,
bridges, or buildings
Mining and Quarrying
the extraction of metallic and
nonmetallic minerals from the land to be used as raw
materials for manufacturing and construction. Copper,
gold, and nickel are the main mineral resources of the
Philippines.
Electricity, Gas, and Water
these are basic utilities
and is the production of essential inputs used by other
subsectors. It is primarily operated by the private
sector but under government regulation.
Skills gap
while the country has abundant labor that is continually rising, there is a shortage of workers who have the skills that meet the job requirement in many industries.
High energy cost
the Philippines’ higher than average energy cost causes business operations and production to be more expensive due to multiple charges and taxes imposed
Poor international image
the country’s poor image in terms of safety has a negative impact in attracting investors
Inconsistency of performance
the growth rate of the sector rarely reaches double digits.
Environmental issues
in many instances, the environment is sacrificed in the process of industrialization and modernization.
One of the 3 major production
sectors of the Philippines.
Industrial Sector
primarily responsible for the production of
intermediate products (industrial goods) that are used as inputs in other industries, which is why is is called the secondary sector (agriculture is the primary sector)
