As his rescue team was rushing last Sunday to San Miguel town in Bulacan to save residents trapped by rising waters due to Supertyphoon Karding (international name: Noru), George Agustin found time to post a Facebook Live video of him and his four companions. “Wait for us; we will be there,” Agustin assured his viewers, smiling with supreme confidence. These would be among his final words. Hours later, the bodies of the five veteran rescuers—Agustin, 45; Troy
What’s the difference? Both the gross national product (GNP) and the gross domestic product (GDP) are sum totals of the money-value of goods and services produced over some period of time. The former refers to what is produced by the Philippines or by Filipinos, anywhere; whereas the latter refers to what is produced within Philippine territory. The GNP is typically larger than GDP because it includes the value produced by the very large number of overseas Filipino workers (OFWs). It counts, at the very least, the remittances of OFWs to their families at home as monitored by banking channels. Such remittances
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