Quick Answer: Why is Philippines rich in mineral resources?

Is Philippines still rich in natural resources?

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 it that Philippines is blessed with natural resources?

The Philippines is blessed with natural resources. It is conducive to agriculture having fertile, arable lands, diverse flora and fauna, extensive coastlines. Philippine government has desperately tried to restrict its exploitation. … A number of metals and mineral resources are found in Philippine soil.

Why is 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.

How rich is the Philippines when it comes to natural resources?

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.

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Why do you think has the Philippines remained a poor country?

The main causes of poverty in the country include the following: low to moderate economic growth for the past 40 years; low growth elasticity of poverty reduction; … recurrent shocks and exposure to risks such as economic crisis, conflicts, natural disasters,and “environmental poverty.”

What is natural resources of the Philippines?

The natural resources of the Philippines include copper, timber, nickel, petroleum, silver, gold, cobalt, and salt.

How do natural resources play an important role in your life?

Any natural substance that humans use can be considered a natural resource. … Natural resources are used to make food, fuel and raw materials for the production of goods. All of the food that people eat comes from plants or animals. Natural resources such as coal, natural gas and oil provide heat, light and power.

Why do we need to conserve our natural resources?

Earth’s natural resources include soil, air, water, plants, animals, light, stone, minerals, and fossil fuels. People need some natural resources to stay alive. They use others to make their lives better. We have to conserve our natural resources since many of them are limited.