Economy
The economy of Leyte is a mixed agriculture, fishing, industrial, energy and mining. Rice is farmed in the lowland plains areas specifically those around Tacloban, while coconut farming, is the main cash crop in upland and mountainous areas. Sugarcane plantation is no. 1 produce in Ormoc City. Since Leyte is an island province, fishing is a major source of livelihood among coastal residents.
The province is the site of the largest geothermal plant in Asia, making it one of the resource-rich provinces of the Philippines. Excess energy of the numerous powerplants in the geothermal valley that generate electricity is supplied to the national grid that adds to the energy demand in Luzon and Mindanao. Mining industry have started to pick up in the province with the exploration in MacArthur. The iron smelting in Isabel have been operational for more than 20 years since its inception.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)