All Academic, Inc. Research Logo

Info/CitationFAQResearchAll Academic Inc.
Document

Made for Export: Tertiary Education and Labor Export in the Philippines
Unformatted Document Text:  26 In addition to being a solution to the educated unemployment problem, the benefits of overseas employment came from the foreign currency that was coming back to the country as remittances. Figure 12 shows the amount of remittances coming from OFWs from 1975-2000. Figure 12. Remittances of Overseas Filipino Workers, 1975-2000. Year Remittances Export Earnings Export Earnings (%) GNP % 1975 103 2294 4.5 0.7 1976 111 2574 4.3 0.6 1977 213 3150 6.8 1.0 1978 291 3425 8.5 1.2 1979 365 4601 7.9 1.2 1980 421 5788 7.2 1.2 1981 545 5720 9.5 1.4 1982 810 5021 16.1 2.1 1983 944 5005 18.9 2.8 1984 659 5391 12.2 2.1 1985 687 4629 14.8 2.3 1986 680 4842 14.0 2.4 1987 792 5720 13.8 2.4 1988 857 7074 12.1 2.3 1989 973 7821 12.4 2.3 1990 1181 8186 14.4 2.7 1991 1500 8840 17.0 3.3 1992 2202 9824 22.4 4.1 1993 2230 11375 19.6 3.9 1994 2940 13483 21.8 4.4 1995 4878 17447 28.0 6.4 1996 4307 20542 21.0 5.0 1997 5742 25228 22.8 6.5 1998 4926 29496 16.7 6.2 1999 6795 8.7 2000 6050 Ratio of Remittances to: Source: Central Bank of the Philippines as reported by the Philippine Overseas Employment Administration It shows that remittances from OFWs became a large proportion of export earnings from 4.5 percent in 1975 to 28 percent by 1995. Given the large debt incurred by the Philippine government, remittances became an important source of foreign currency for the central government.

Authors: Ruiz, Neil.
first   previous   Page 27 of 45   next   last



background image
26
In addition to being a solution to the educated unemployment problem, the benefits of
overseas employment came from the foreign currency that was coming back to the country as
remittances. Figure 12 shows the amount of remittances coming from OFWs from 1975-2000.
Figure 12. Remittances of Overseas Filipino Workers, 1975-2000.
Year
Remittances
Export
Earnings
Export
Earnings (%)
GNP %
1975
103
2294
4.5
0.7
1976
111
2574
4.3
0.6
1977
213
3150
6.8
1.0
1978
291
3425
8.5
1.2
1979
365
4601
7.9
1.2
1980
421
5788
7.2
1.2
1981
545
5720
9.5
1.4
1982
810
5021
16.1
2.1
1983
944
5005
18.9
2.8
1984
659
5391
12.2
2.1
1985
687
4629
14.8
2.3
1986
680
4842
14.0
2.4
1987
792
5720
13.8
2.4
1988
857
7074
12.1
2.3
1989
973
7821
12.4
2.3
1990
1181
8186
14.4
2.7
1991
1500
8840
17.0
3.3
1992
2202
9824
22.4
4.1
1993
2230
11375
19.6
3.9
1994
2940
13483
21.8
4.4
1995
4878
17447
28.0
6.4
1996
4307
20542
21.0
5.0
1997
5742
25228
22.8
6.5
1998
4926
29496
16.7
6.2
1999
6795
8.7
2000
6050
Ratio of Remittances to:
Source: Central Bank of the Philippines as reported by the Philippine Overseas Employment Administration


It shows that remittances from OFWs became a large proportion of export earnings from 4.5
percent in 1975 to 28 percent by 1995. Given the large debt incurred by the Philippine
government, remittances became an important source of foreign currency for the central
government.


Convention
All Academic Convention is the premier solution for your association's abstract management solutions needs.
Submission - Custom fields, multiple submission types, tracks, audio visual, multiple upload formats, automatic conversion to pdf.
Review - Peer Review, Bulk reviewer assignment, bulk emails, ranking, z-score statistics, and multiple worksheets!
Reports - Many standard and custom reports generated while you wait. Print programs with participant indexes, event grids, and more!
Scheduling - Flexible and convenient grid scheduling within rooms and buildings. Conflict checking and advanced filtering.
Communication - Bulk email tools to help your administrators send reminders and responses. Use form letters, a message center, and much more!
Management - Search tools, duplicate people management, editing tools, submission transfers, many tools to manage a variety of conference management headaches!
Click here for more information.

first   previous   Page 27 of 45   next   last

©2008 All Academic, Inc.