Capiz - Economy

Economy

Dubbed as the “Seafood Capital of the Philippines”, Capiz boasts of its 80-kilometer coastline and wide expanse of swampy lands easily converted into fishponds. It holds one of the richest fishing grounds and a major contributor in the aquamarine industry of the Philippines.

Four big telecommunication companies offer telegraph, telex and telephone services. There are 33 banking institutions and 116 intermediaries operating in the province.

Farming and fishing are the primary sources of income of the people. The combined natural bounty of land and sea sustain a vibrant food industry. Primary agricultural raw products are rice, corn, coconut, sugarcane, banana and cut flower. Apart from a surplus of agricultural products, Capiz is also a major supplier of prawn and milk fish of the country. Other agro-industrial harvests include blue marlin, squid, oysters, shrimp, seaweed, squid and angel wings. Rich fish ponds attract investors to venture into prawn culture, prawn feed manufacture, seaweed farming and the distribution and processing of other marine products. A robust workforce of 445,246 operates with a literacy rate of 90.5% The agricultural sector ensures the province as one of the wealthiest in the Western Visayas Region although progress is impeded by corruption.

Its relatively unexplored caves are said to have high deposits of mineral resources such as limestone, gold and metal.