(Europa solid ground , 2005Changes in deductions scram been less attach , although the get down in land prices and some changes in energy manipulation reduced the proportion represented by crude rock oil to only 6 in 1996-98 from the 23 recorded in 1983 Subsequent rises in world petroleum prices still left(a) the allot at 7 .5 in 2000-03 . The bulk of import disbursal is on capital goods (39 of the (35 in the same point in time (Europa World , 2005 ) two categories are highly sensitive : the causality to trends in contrasted demand for Filipino electronics , since materials for their manufacture narrative for much than half(a) the spending in this category , and the latter(prenominal) to trends in domestic enthronement . Thus imports of capital goods shake off by 12 in the recession year 1998 , and spending on inte rmediates declined in 2001 , when exports of electronics fell by one-quarter , and improved markedly in 2002 , as this sector staged a partial tone convalescence (Philexport , 2001The USA and Japan continued to dominate Philippine multinational trade with the level of transactions sustained by promote and private investment inflows at very most-valuable volumes .
Changes in market shares have occurred among second-rank partners , as trade with otherwise members of the companionship of South East Asian Nations (ASEAN ) has grown in splendour as it has been liberalized . Their share of exports and imports increa sed from only 2 in 1973 to 17 .6 and 16 .3 ,! respectively , in 2003 (Europa World , 2005CONTEXTUAL FACTORS AND ISSUESPolitical and HistoricalIn a region that has been famous for economic dynamism , the Philippines have a great deal stood out as an exception . Although the country has often been regarded as one of the oldest democracies in East Asia , the Philippines have seen more that their share of political turmoil . The Philippines was a Spanish dependency from 1521 until 12 June...If you want to get a full essay, place it on our website: OrderCustomPaper.com
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