Why are natural resources important in the Philippines?

Natural resources play a critical role in the Philippine economy, as agriculture, fisheries, and forestry represent about 10 percent of gross domestic product and account for almost 30 percent of employment.

What are the most important natural resources in the Philippines?

It is estimated that the Philippines is home to more than 21.5 billion metric tons (MT) of metal deposits and 19.3 billion MT of nonmetal mineral deposits. The natural resources of the Philippines include copper, timber, nickel, petroleum, silver, gold, cobalt, and salt.

What can you say about the natural resources of the Philippines?

The country is rich in gold, copper, chromite, silver, nickel, cobalt, and other minerals. Coal and limestone are also abundant. According to advertisements placed in The Financial Times in 1989: “The Philippines is more densely mineralised than Australia, the tonnages are larger and the terrain is largely unexplored.

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What natural resources do we have in the Phils that contribute for us as developing country?

The Philippines has a bounty of minerals, cropland, timber, and coastal and marine resources. These natural resources make up an estimated 19% of the nation’s wealth, contributing to the country’s consistent GDP growth.

What is the significance of natural resources to the country’s economy?

Natural resources, both renewable and non-renewable, and ecosystem services are a part of the real wealth of nations. They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction.

What are the importance of natural resources how can we conserve them?

Natural resources are available in fixed quantity and they are non – renewable, 8. Natural resources are getting scarce with the increasing population, so it is essential to conserve them. This empowers us as well as our future generation to utilise the natural resources to the full extent.

How do natural resources affect the environment?

In short, raw material extraction and processing always impact on the environment, resulting as they do in soil degradation, water shortages, biodiversity loss, damage to ecosystem functions and global warming exacerbation. … Improper product use provokes noxious emissions that can end up in our water, soil and air.

Why is it important to protect and to conserve the natural resources of the Philippines?

They provide food, fresh water, livelihoods and climate resilience to more than 100 million Filipinos. … The forests and oceans of the Philippines sequester vast amounts of carbon — playing a significant role in the global solution to climate change.

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Can the Philippines be considered rich in natural resources Why or why not?

The Philippines is a country rich in natural resources, such as minerals, agricultural land and fisheries, but this wealth is threatened by fast economic growth, rapid urbanisation and climate change. Evidence-based decision making can help balance the need for economic growth with sustainable resource management.

Why is the Philippines rich in mineral resources?

The Philippines is blessed with metal and mineral deposits due to its geology. The islands are on the top of underwater mountains that were formed due to the molten rocks from the interior of the earth, which created the ideal setting of a variety of valuable minerals.

What are the three important resources in government?

The government derives its revenue from three major sources: taxation, earnings and other credits, and extraordinary income, including the transfer from special funds (i.e., funds derived primarily from unexpended balances in the budget that are deposited as savings accounts).

What can you do to help preserve the natural resources in the Philippines?

Protecting our planet starts with you.

Ten Simple Things You Can Do to Help Protect the Earth

  1. Reduce, reuse, and recycle. Cut down on what you throw away. …
  2. Volunteer. Volunteer for cleanups in your community. …
  3. Educate. …
  4. Conserve water. …
  5. Choose sustainable. …
  6. Shop wisely. …
  7. Use long-lasting light bulbs. …
  8. Plant a tree.

What is importance of resources?

Resources are important for us as we utilise them to satisfy our wants. Many minerals like iron, copper, mica etc. are used in industries for manufacturing various goods. Minerals like coal and petroleum are used for the generation of electricity. Natural resources like water and air are indispensable for human life.

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How are natural resources important for the economic development of a developing country?

An abundance of natural resources should accelerate economic development because it increases exports so that more capital goods can be imported to build up the economy, and also because the natural resource rents (returns in excess of those required by an efficient producer) can be used to boost capital investment.

What are the advantages of natural resources?

the advantages of natural resources are :

  • they obtained from nature for example : land ,water,air . and land is useful for driving vehicles ,walking etc.
  • water is used for drinking ,washing ,bathing and cleaning .
  • air is also essential part of life it is used for many purposes like breathing . etc.