Economy
The city is the center of trading activities in the province. It serves as the intra-distributor of almost all commodities being traded to other municipalities in the entire province. Masbate’s main products are copra and marine resources such as fish. These are traded to Manila, Lucena, Legazpi, and Cebu cities. Other traded products such as dried fish, crabs, prawn, bangus, livestock, and rice are coming from the neighboring municipalities of Milagros, Baleno, Balud, Mandaon, Aroroy, Mobo, Uson, Dimasalang, Palanas, Placer, Pio. V. Corpus and Cawayan.
The city has existing trading relation with Manila, Cebu, Lucena, Iligan, Roxas, Iloilo, Tacloban, Ormoc, Legaspi, Naga, Daet and Sorsogon. These are the main destinations of the products traded by the city and those of the other municipalities passing through the city’s port. Copra, cattle, and aquamarine products are also shipped-out to Metro Manila, Cebu, Batangas and Lucena, etc. Shrimps, crabs and prawns are shipped to Japan, mud crabs to Taiwan, headless squid to USA and Japan, crab meat to USA and scallops to Europe.
The city is importing products mainly from Manila, Lucena, Cebu and Legaspi. These are mostly rice, bakery raw materials, transport vehicles and appliances, farm inputs, construction materials and basic commodities. These are also traded by the city to other municipalities in the whole province.
Read more about this topic: Masbate City
Famous quotes containing the word economy:
“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)
“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)
“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)