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    Economic Development: Group 2

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    RAMIREZ, KRISHA R.
    The document discusses the four main economic sectors - primary, secondary, tertiary, and quaternary. The primary sector involves extraction and production of raw materials like agriculture, fishing, and mining. The secondary sector processes raw materials into finished goods through manufacturing. The tertiary sector provides commercial services to both businesses and consumers. Finally, the quaternary sector focuses on knowledge-based services like education, technology, and research.

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    © All Rights Reserved
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    Economic Development: Group 2

    Uploaded by

    RAMIREZ, KRISHA R.
    78 views21 pages
    The document discusses the four main economic sectors - primary, secondary, tertiary, and quaternary. The primary sector involves extraction and production of raw materials like agriculture, fishing, and mining. The secondary sector processes raw materials into finished goods through manufacturing. The tertiary sector provides commercial services to both businesses and consumers. Finally, the quaternary sector focuses on knowledge-based services like education, technology, and research.

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    GROUP-2-REPORT-Economic-Development

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    The document discusses the four main economic sectors - primary, secondary, tertiary, and quaternary. The primary sector involves extraction and production of raw materials like agriculture, fishing, and mining. The secondary sector processes raw materials into finished goods through manufacturing. The tertiary sector provides commercial services to both businesses and consumers. Finally, the quaternary sector focuses on knowledge-based services like education, technology, and research.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    78 views21 pages

    Economic Development: Group 2

    Uploaded by

    RAMIREZ, KRISHA R.
    The document discusses the four main economic sectors - primary, secondary, tertiary, and quaternary. The primary sector involves extraction and production of raw materials like agriculture, fishing, and mining. The secondary sector processes raw materials into finished goods through manufacturing. The tertiary sector provides commercial services to both businesses and consumers. Finally, the quaternary sector focuses on knowledge-based services like education, technology, and research.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 21

    Bicol College

    Economic Development

    Group 2

    Nudo, Michaella
    Nieves, Ma. Bernafae
    Oquindo, Jocel Marie
    De Belen, Larilyn

    Different Kinds of Economic Sector

    Quaternary Economic Sector

    Tertiary Economic Sector

    Secondary Economic Sector

    Primary Economic Sector


    WHAT IS A ?

    A sector is an area of the economy in which businesses


    share the same or related business activity, product, or
    service.
    Sectors represent a large grouping of companies with
    similar business activities, such as the extraction of natural
    resources and agriculture.
    1. Primary Economic Sector
    (Extraction and production of Raw materials)

    The primary sector involves companies that participate in the extraction and
    harvesting of natural products from the Earth. Primary sector companies are
    typically engaged in economic activity that utilizes the Earth's natural
    resources, which are sold to consumers or commercial businesses.

    Companies involved in the processing and packaging of raw materials are


    also categorized within the primary sector.
    a.) Labor Trends in the primary sector

    Mining and quarrying- Mining Automation

    Fishing- portion of low-value/trash fish is increasing in many areas, a trend


    that is meeting the growing demand for these fish for use as feeds for
    livestock and aquaculture.

    Agriculture- Introduction of better and efficient irrigation facilities.


    - use of machinery such as harvester
    Forestry
    Hunting

    b. Agriculture

    The agriculture sector is called the primary sector because more people
    concentrated in the agriculture field and dependent on the environment.

    According to the article of Employment by economic sector in the Philippines


    2019, 22.86 percent of the employees in the Philippines were active in the
    agricultural sector.

    Major agricultural systems include lowland irrigated farming, rainfed farming,


    and upland farming. The Philippines' major agricultural products include rice,
    coconuts, corn, sugarcane, bananas, pineapples, and mangoes.

    c. Fishing

    The fishing industry includes any industry or activity concerned with taking,
    culturing, processing, preserving, storing, transporting, marketing, or selling
    fish or fish products.

    It is defined by the Food and Agriculture Organization as including recreational,


    subsistence, and commercial fishing, and the related harvesting, processing,
    and marketing sectors.

    2. Secondary Economic Sector

    takes the output of the primary sector (i.e. raw materials) and creates
    finished goods suitable for sale to domestic businesses or consumers and
    for export via distribution through the tertiary sector.

    Manufacturing is an important activity in promoting economic growth and


    development. Nations that export manufactured products tend to
    generate higher marginal GDP growth, which supports higher incomes
    and therefore marginal tax revenue needed to fund such government
    expenditures as health care and infrastructure.
    The secondary sector includes the following business activities:
    Automobile production, Textile, Chemical engineering, Aerospace space,
    Shipbuilding, Energy utilities

    a. Prominent industries

    According to the Philippines Manufacturing Trends 2020, Manufacturing


    contributed 22.6% to GDP as of 2019. The top 5 categories for manufacturing are:

    1. Food manufacturing (USD 14.9B industry, half-year 2019)


    2. Radio, television and communication equipment and apparatus (USD 3.8B)
    3. Chemical and chemical products (USD 2.1B)
    4. Petroleum and other fuel products (USD 1.3B)
    5. Beverage industries (USD 1.1B)
    These are the Prominent and top 10 Manufacturing companies in the Philippines based
    on their financial statements, sales and marketing contacts

    1. SAN MIGUEL CORPORATION


    2. PETRON CORPORATION
    3. SAN MIGUEL FOOD AND BEVERAGES, INC.
    4. EL COCO MANUFACTURING AND TRADING CORPORATION
    5. SAMPLE PHILIPPINES VENDOR CORPORATION
    6. PILIPINAS SHELL PETROLEUM CORPORATION
    7. PMFT INC.
    8. UNIVERSAL ROBINA CORPORATION
    9. TOSHIBA INFORMATION EQUIPMENT (PHILIPPINES), INC
    10. NESTLE PHILIPPINES, INC.
    b. Clothing and textiles

    Clothing manufacturing includes numerous operations necessary to


    make garments. It includes processes like cutting, sewing and finishing.

    Local textiles and fabrics in the Philippines

    3. Jusi/ Hablon textile


    1. Piña fabric

    2. Abaca
    c. Metals and engineering
    Metals and engineering industry involved work activities such as cutting,
    pressing or casting metal, welding or grinding.

    The Metals and Equipment Engineering (M&E) industries play a vital role
    in the country’s economic growth and development.

    The Philippine economic sectors manufacturing, agricultural, and service


    sectors are heavily dependent on the M&E industry especially in terms of
    their requirements for tools, implements, machines and equipment, parts
    and assemblies, among others.
    D. OIL AND gas

    According to the Oil & Gas Journal, the Philippines had 139 million barrels
    of proved crude oil, including lease condensate, reserves in 2019.

    In 2019, total petroleum and other liquids production were 37,000 barrels
    per day (b/d), and the country consumed 474,000 b/d.

    The Philippines imported various types of crude oil. Around 85 percent of


    the total crude mix (30,200 MB) was sourced from the UAE, Kuwait,
    Russia, and Saudi Arabia. The remaining 15 percent was imported from
    ASEAN countries, Australia, Taiwan and South Korea.
    E. ELECTRONICS

    The Philippine semiconductors and electronics industry is the largest


    contributor to the country's manufacturing sector.

    In 2013, the industry accounted for 41% of total exports, brought in US$
    918 million worth of foreign and domestic investments, and employed 2.2
    million workers.
    Top 10 Electronics manufacturing companies in Philippines by number
    of employees for February 2022

    1. AYALA
    2. IMI (Integrated Micro-Electronics)
    3. SFA Semicolon Philippines Corporation
    4. Ionics
    5. TroyCor Lightning
    6. TEAM PACIFIC
    7. Fastech
    8. Gunamis Power Generator
    9. Delta Lightning Industrial
    10. Innovatronix
    f. Biotechnology

    Biotechnology utilizes living cells and cellular materials to create


    pharmaceutical, diagnostic, agricultural, environmental, and other products
    to benefit society.

    It is also used to study and alter genetic information in animals so that human
    diseases can be modeled and studied.

    Top Biotech & Pharmaceuticals Companies in Manila


    Johnson & Johnson AstraZeneca
    IQVIA Sanofi
    GlaxoSmithKline Roche
    Bayer Dexcom
    PPD
    PFIZER
    g. crafts
    The Philippines is the second-largest world producer of handicrafts, mainly
    baskets out of indigenous materials.

    This industry continues to provide a respectable contribution to the foreign


    exchange earnings of the country (US$71.9M in 2000) while many handicraft
    items are also sold on the local market.

    Famous arts and crafts of Philippines

    weaving
    metal smith
    pottery,
    woodcarving
    gold smith

    3. The tertiary economic sector


    is also known as the service industry. This sector sells the goods produced by
    the secondary sector and provides commercial services to both the general
    population and to businesses.
    It involves the retail of manufactured goods. It also provides services, such as
    insurance and banking.

    THE TERTIARY INDUSTRY IS SPLIT INTO TWO MAIN CATEGORIES

    PROFIT
    NON-PROFIT
    The first is made up of companies in
    The second comprises the non-profit
    the business of making money, such as
    segment, which includes services such
    those in the financial industry.
    as the police.

    TERTIARY SECTOR EXAMPLES

    Hospitality Industry Medical Services Personal Services




    Transportation Financial Institution



    4. Quaternary Economic Sector

    A knowledge-based part of the economy typically includes services such as


    information generation and sharing information, technology, consultation,
    education, research and development, financial planning, and other knowledge-
    based services.

    It is the process that enables entrepreneurs to innovate better manufacturing


    processes and improve the quality of services offered in the economy.

    This term has been used to describe media, culture, and government.
    Quaternary sectors consist of those industries
    providing information services such as:

    ICT (Information Research (particularly in


    and Communication Consultancy (offering
    scientific fields) advice to businesses
    Technology)

    Education Government
    Entertainment and Media

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