Economy
Palawan's economy is basically agricultural. The three major crops are palay, corn and coconut. Mineral resources include nickel, copper, manganese, and chromite. Logging is also a major industry. Palawan has one of the richest fishing grounds in the country. About 45% of Manila's supply of fish comes from here. Having natural gas reserves of approximately 30,000 trillion cubic feet, the province is the only oil-producing province in the country. In addition, tourism is also a thriving sector.
Pearl diving used to be a significant economic activity for Palawan until the advent of plastics. The world's largest pearl, the 240mm diameter Pearl of Lao Tzu, was found off Palawan in 1934.
The economic and agricultural business growth of province is at 20% per annum. Coconut, sugar, rice, lumber, and livestock are produced here.
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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)
“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)
“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)