Masbate Economy

The province of Masbate is designated as a fourth class province.

AGRICULTURE
The economy of Masbate is predominantly agriculture. Recent statisticsshows that agriculture and fishery sectors continued to be the primary sources of income and employment of the people. The agricultural land comprises 93% of the total land area of the province. Perennial trees and vines occupy 132,597 has. cultivated annual crops 53,191 has., irrigated rice 4,943 has. and pasture area 187,472 has. Among the agricultural crops, the coconut served as the primary source of livelihood and income of the people. Copra production is estimated to be 60,000 MT per year amounting to P540 M. The potential of the livestock production of the province lies in the cattle industry. Masbate has a vast tract of land ideal for livestock production. Latest survey shows that the province has a total cattle production of about 65,000 heads. Aside from crops and livestock, the fishery sector also provides a substantial contribution local economy. Average annual assorted fishery products is estimated to be 303,826.80 MT.

Mining, Quarrying and Extracting
Masbate is considered as one of the richest mineral area in the country. Gold, copper, silver, iron, manganese, limestone and chromite deposites abound in most parts of the province. The largest mining establishments operating (would- be operating) are tht Base Metal, Inc. (Gold) in Aroroy and Ticao Island Cement Corporation in Monreal.

TRADE
Trading is the dominant economic activity in most part of the province. Copra, cattle, and aquamarine products are regularly shipped-out to Metro Manila, Cebu, Batangas, Lucena and neighboring islands. Selected commodities such as shrimps, prawns, mud crabs, scallops, and mollusks are exported abroad.

Masbate Philippines, Geography, Climate, Economy, Major Industries, History, Political System, Getting There, Topography
Slope, Infrastructure, Beaches and Resorts, Investment Guide, Investment Opportunities, Links and References

Tourist Attractions - Natural Attractions, Cultural Attractions, Man-Made Attractions Feasts and Festivals
Special Interest Rodeo Filipino, Limestone Hills, Catandayangan Falls, Aroroy Beach, Bat-Ongan Caves, Underwater Caves


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