Economy
About 75% of the Ivatans are farmers and fishermen. The rest are employed in the government and services sector. Garlic and cattle are major cash crops. Ivatans also plant camote (sweet potato), cassava, gabi or tuber and a unique variety of white uvi. Sugarcane is raised to produce palek, a kind of native wine, and vinegar.
In recent years, fish catch has declined due to the absence of technical know-how. Employment opportunities are scarce. Most of the educated Ivatans have migrated to urban centers or have gone abroad.
A wind diesel generating plant was commissioned in 2004.
Distance and bad weather work against its economic growth. Certain commodities like rice, soft drinks, and gasoline carry a 75% to 100% mark-up over Manila retail prices.
Read more about this topic: Batanes
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)