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.

Travel Quotes:

One travels more usefully when alone, because he reflects more. Thomas Jefferson

Just got back from a pleasure trip: I took my mother-in-law to the airport. Henny Youngman

Common dishes

Popular catches include tilapia, catfish (hito), milkfish (bangus), grouper (lapu-lapu), shrimp (hipon), prawns (sugpo), mackerel (galunggong, hasa-hasa), swordfish, oysters (talaba), mussels (tahong), clams (halaan and tulya), large and small crabs (alimango and alimasag respectively), game fish, sablefish, tuna, cod, blue marlin, and squid/cuttlefish (both called pusit).

More details at Common dishes

MASBATE FAST FACTS   LOCATION :   Central  Philippines   REGION :   Region V - Bicol   LAND AREA :   404,770 Has.   MUNICIPALITY :   21   BARANGAY :   550   HOUSEHOLD :   128,860   POPULATION :   653,852 (1995) Census   POPULATION GROWTH :   9.16% (1990-1995)   LITERACY RATE :   95.90%   DIALECT :   Masbaneto, Cebuano,          Hiligaynon and Bicolano   CLIMATE :   Type II and III   MAJOR PRODUCTS :   Copra, Aquamarine,         Cattle and Gold Masbate Philippines, Masbate Geography, Masbate Climate, Economy, Masbate Major Industries, Masbate History, Masbate Political System, Masbate :Getting There, Masbate Topography, Masbate Slope, Masbate Infrastructure, Masbate Beaches and Resorts, Masbate Investment Guide, Masbate Investment Opportunities, Masbate Links and References Masbate Tourist Attractions - Masbate Natural Attractions, Masbate Cultural Attractions, Masbate Man-Made Attractions Masbate Feasts and Festivals Special Interest Masbate Rodeo Filipino, Limestone Hills, Masbate Catandayangan Falls, Masbate Aroroy Beach, Masbate Bat-Ongan Caves, Masbate Underwater Caves

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