THE GDP 2017, AND INDUSTRIALIZATION

As we speak the Philippines has gained a GDP growth for 2017 of at least 6.5 percent, with a total GDP volume of 300+ Billion USD. PHILIPPINE GDP GROWTH FOR 2017

On the other hand, China has reached 23.2 Trillion USD total GDP, and a growth 6.9 percent this year. CHINA GDP AND GROWTH FOR 2017

What does this mean? 

We are quick to celebrate that in some instances ago, we have overtaken China's growth in percentage, and simple ignorance we became proud of that, not knowing that China has a big GDP base ever since, China is the world's second largest economy in the world.

Now,  what can the 300 billion USD dollar economy can do against the giant 23.2 Trillion USD eocnomy of China?

THE PHILIPPINE DATA GDP OF THE PHILIPPINES

Let's face it that we need to dream of becoming an industrial economy, and our growth of 6.5 percent which is good, comes in various sectors which do not account for the new industries that we need for manufacturing which will account for increasing our self-reliance and technologically independent, which is a matter of advocacy here that we need to address. The 6.5 percent accounts for the following as reported by inquirer

"Based on the DOE data, capacity-wise coal has the largest share at 35 percent, followed by renewable energy at 32.5 percent. Much of the renewable-energy-based installed capacities come from hydropower (16.8 percent) and geothermal (8.8 percent). Oil-based and natural gas had shares of 16.6 percent and 15.9 percent, respectively. Further, gross power generation reached 44,649 gigawatt hours. Fossil-based generation (i.e., oil, gas and coal) is approximately 72 percent, while the remaining 28 percent is renewable-energy-based"

In the above, it shows that the sector of manufacturing did not post satisfactory growth, or being not mentioned, it is because the performance and  growth were not visible, and we need to give attention to it that would alleviate and improve our export sector and secure foreign currency inflow.

Still, it shows that the power sector still lacks the needed output to supply the needs of industries that needs to be filled, and that's why the focus on this area is immense at the moment.

Further, the attention for introducing more industries in the country is very significant. As the trade gaps and deficits are everywhere, we need to spur more industrial activity in the countryside to support the needed and inclusive growth that is reliable.

Most of all, we are very short in growth in the machinery sector, steel, and metal industries that would support machinery, and industrial production as base. Because this industry is technological in character, there should be encouragements and incentives in these areas that will induce the priming of the industry, and to invite foreign partnerships that will make the channel of technology transfer needed.