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:
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“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)
“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)