At present, the economy in the Philippines is struggling to fight economic depression. There are lots of attempts to overturn the Philippine economy yet it remains tough to obtain not only economic stability but to improve both its local and international trade. From among the countries in Asia, Philippine economy was affected by the economic crisis experienced by the whole world. However, this does not stop the road to economic progress.

The three major sectors of the Philippine economy consist of the agriculture, industry and service. These are classified as the GDP or the Gross Domestic Products. The Philippine agricultural sector has been declining due to calamities, climate changes and the effects of El Nino. But this is not the case in the service sector since it is continuously growing. Agriculture contributed twenty percent of the Gross National Product in the Philippines. The industry and service sectors constitute thirty two percent and forty eight per cent of the country's GDP, respectively. 

Philippines is a country known more on agriculture, forestry and fishing; although, there is a growth in the mining, manufacturing and construction industries. The Philippine crops include rice, corn, bananas, sugar cane, mangoes, papayas, coconuts, pineapple and abaca. The major exportation of the Philippines to its trade partners not only in Asia but the other countries in the globe constitutes abaca, pina, sugar cane and copra.  Hardwood was once a popular industry in the Philippines; however, this gives rise to illegal logging which the Philippine government banned hardwood logs to be exported. But this does not result to the curtailment of the legal exportation of logs from the Philippines.

The Philippines has manufacturing industries which brought growth in the Philippine economy.  The manufacture of goods ranges from textiles and non durable goods, tobacco products, processed foods, electrical goods, non electrical equipments and furniture.
The leadership of President Benigno Simeon C. Aquino 111 is off to a great start for a change. He envisions the Philippines as a country with free market and lower taxes in order to encourage foreign investments just to solve the unemployment problem in the country.

President Aquino's program on "Run after Tax Evaders" or RATE is recently implemented and his government is working hand in hand with the Department of Finance and its division – the Bureau of Internal Revenue. Aside from this program, Aquino's infrastructure projects are implemented by working hand in hand with the Local Government Units as well as other infrastructure agencies.

The Aquino administration is also providing an environment which could easily attract foreign investments in the country with equal emphasis on both the exports and imports with the trading partners of the Philippines such as United States, Hongkong, Middle East, Singapore, Japan and Taiwan among others. The aforementioned countries are importing to the Philippines chemicals, petroleum, metals, foods, textiles and transportation equipments.  The remittances made by the overseas Filipino workers significantly contribute to a more stable economy. There are many Filipinos working in the medical, Information Technology and skilled worker industry. Some are working as engineers, domestic helpers, architects, doctors, nurses, servicemen in the military and accountants. There are also those working in the hospitality, retail and food beverage industry.

All of these programs together with Aquino's fight against corruption are steps needed in order for the Philippines to move forward. It is Aquino's plan to change the existing economic survival of the country to a productive and growing economy.

The whole Filipino nation is hoping for a change so that the Philippines will take its step towards economic development.