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:
“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)
“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)
“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)