Philippines and International Trade Essay Example for Free

Philippines and supranational Trade EssayWhat is foreign trade? world(prenominal) trade is defined as trade between two or much partners from different countries in the exchange of goods and services. In order to understand multinational trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply globalization the world and enable 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 Product (GDP) and helps to boost the countrys overall economy 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 develop ment in Philippine economy has been because of high government spending. A hard work service sector and large allowance from millions of Filipinos working abroad played an important role 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 need a further increase in growth rate in order to lose economic growth. More economic development is required to change magnitude poverty in the country and point of reference imbalances in distribution of income. It also stresses on high population growth. This paper discusses the uncertain economic positioning 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.