Economy
Bicol Region has a large amount of rich flat land, and agriculture is the largest component of the economy with close to 50% depending their livelihood on the industry. Coconuts, abaca, banana, coffee and jackfruit are the top five permanent crops in the region. Rice and maize are among the chief seasonal crops of the region. Commercial fishing is also important with thirteen major fishing grounds supplying fish markets in places as far as Metro Manila. Agriculture and fishing are the major factors in the province's economy.
Mining is also one of the contributors to the region's economy. Several handicrafts, jewelry manufacturing, other small-scale industries and manufacturing enterprises bolster rural incomes.
Read more about this topic: Bicol Region
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)