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:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)