0
The largest source of foreign exchange in the Philippines is the remittances sent by Overseas Filipino Workers (OFWs). These remittances significantly contribute to the country's economy, providing a vital source of income for many families and supporting local businesses. In recent years, remittances have consistently outpaced other sources of foreign exchange, such as tourism and foreign direct investment. This reliance on remittances underscores the importance of the Filipino diaspora in the national economy.
What else can I help you with?
Where does Mexico's second largest source of foreign investment?
What is Mexico second largest source of foreign investment
Main source of foreign exchange for russia?
"Oil and gas" US dollars
What is a major source of income for both Mexico and Venezuela?
Nowadays (2018) the largest source of foreign exchange for Mexico are its exports of manufactured products, which generate an income of $373 billion per year. Among these, machinery and equipment (37%), motor vehicles and parts (25%), as well as mineral fuels (6%) are the largest contributors. In the case of Venezuela, oil and its refined products amount for more than 89% of its total exports, followed by gold (2.7%) and chemical products (1.3%). Total exports of Venezuela are $34.3 billion.
What are the uses of tourism?
Employment opportunities source of public as well as private cultural site source of foreign exchange earnings for money
What is the highest source of foreign exchange into Pakistan apart from exports?
money sent by ex-patriate Pakistanis living and/or working abroad
Why is tourism an important economy in the Caribbean islands?
1. It brings foreign exchange into the region. 2. It is their main source of income.
What is meant by cash crop?
the cash crop are the main source of earning foreign exchange
Where is the foreign exchange market located?
The foreign exchange (Forex) market is a decentralized worldwide financial market. That means that it has no specific locations or source. However, the World Bank collects data and creates reports on currency performance and market share.
Why agriculture is consider as the back bone of the Philippine economy?
Agriculture is important because it is the source of food (the major component of household expenditure in the Philippines) for the economy. Aside from that, it is the source of foreign exchange, the number of laborers that can be absorbed , the source of raw materials for manufacturing and related industries, and a potential market for products of other economic sectors. To read more on this topic, google... * bit(dot)ly/1AzpggJ * (without asterisks and change the (dot) to its symbol)
Who is the World biggest foreign exchange earner?
As of my last update in October 2023, the largest foreign exchange earner globally is typically the tourism industry, which generates significant revenue for many countries. However, specific rankings can vary by year and data source. Countries like the United States, China, and Germany also rank high in foreign exchange earnings due to their robust exports in various sectors, including technology, manufacturing, and services. For the most accurate and current information, it's best to consult recent economic reports or statistics.
What are the towns in the Philippines that have the largest population?
Quezon City, Population 2,679,450 Manila, Population 1,660,720 Caloocan, Population 1,378,856 Source: Wikipedia
What is importance of agriculture to the Philippine?
Agriculture is important because it is the source of food (the major component of household expenditure in the Philippines) for the economy. Aside from that, it is the source of foreign exchange, the number of laborers that can be absorbed , the source of raw materials for manufacturing and related industries, and a potential market for products of other economic sectors. To read more on this topic, Google... * bit(dot)ly/1AzpggJ * (without asterisks and change the (dot) to its symbol)
