Palawan’s economy is basically agricultural. The three major crops are palay, corn and coconut. Mineral resources include nickel, copper, manganese, and chromite. Logging is also a major industry. Palawan has one of the richest fishing grounds in the country. About 45% of Manila’s supply of fish comes from here. Having natural gas reserves of approximately 30,000 trillion cubic feet, the province is the only oil-producing province in the country. In addition, tourism is also a thriving sector.
The economic and agricultural business growth of province is at 20% per annum. Coconut, sugar, rice, lumber, and livestock are produced here.