The capital is Manila. The Philippines lies near a typhoon belt, and is usually affected by 15 a year. It is also struck by five to six cyclonic storms per year. There are 15,800 sq km of irrigated land. The Philippines are rich in agricultural potential, but an inadequate infrastructure system, lack of financing, and past government policies have limited productivity gains.
Philippine farms produce food crops for domestic consumption and cash crops for export.
The Philippines also reports a fish catch of 2 million metric tons annually. Agriculture accounts for one fifth of economic production, and food processing is one of the largest segments in the industrial sector. With its 7,107 islands, the Philippines has a very diverse range of fishing areas. However, the fishing industry continues to face a bleak future due to destructive fishing methods, a lack of funds and an absence of government support. The Philippine economy fared relatively well during the recent economic crisis in comparison to some of its Asia Pacific neighbors.