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As with most nations, industrialization had a profound impact on the economy of the Philippines and on its society as a whole. A poor, agricultural nation, the process of industrialization enabled the Philippines to vastly improve the efficiency of its agricultural sector while concurrently enabling the emergence of a manufacturing base specializing in high-technology goods. The Philippines is a major exporter of computers and computer components, including integrated circuit boards, and of other electronic devices. For this historically poor nation traditionally dependent upon agricultural exports, as well as upon the presence of the since-closed U.S. military bases, which pumped billions of dollars into the Philippines economy, the transition to such high-technology goods has had a major effect on the country's economy and on its culture. With the emergence of a high-technology manufacturing sector, the Philippine society has undergone a major transformation, with higher standards of living in major cities, although poverty remains endemic in outlying islands that form the archipelago.
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