Economy
Davao del Norte is a primarily agricultural, but also engages in mining, forestry, and commercial fishing.
The principal crops of the province include rice, maize, banana, coconut, abacá, ramie, coffee, and a variety of fruit and root crops. Davao del Norte is the country's leading producer of bananas, with many plantations run by multinationals Dole and Del Monte, and local producers such as Lapanday, TADECO, and Marsman. Davao del Norte is also one of Mindanao's leading producer of rice.
Davao Gulf, to the south of the province, provides a living for many fishermen. Some of the fish products include brackish water milkfish, tilapia, shrimp, and crab; and freshwater catfish and tilapia.
Davao del Norte is a major producer of gold, and its mining resources include silica, silver, copper and elemental sulfur. Small-scale gold mining activities thrive in several areas. There are also numerous active quarries of commercial quantities of gravel, sand, and pebbles for construction.
Tourism is also a major part of the economy of Davao del Norte. There are a lot of beaches on Samal Island, the most famous of which is Pearl Farm Beach Resort.
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Famous quotes containing the word economy:
“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)
“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)
“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)