Buisness

Currently about three thousand acres of bananas are grown on the island, making La Palma, after Tenerife, the second largest banana producer of the Canary Islands.  There are also plantations of citrus fruits, avocados, vegetables, potatoes and grapes (used for the production of wine).  The transfer of water from the peaks to the gardens is done through a network of galleries and filter channels.  Livestock on the island is mainly goats, used for the procurement of milk and making cheese.

A growing source of income is tourism, which focuses on the areas of Puerto Naos and Los Cancajos.  The beaches of Puerto Naos and Los Cancajos bear the blue flag of the European Union, which guarantees a high level of quality.

Agriculture remains, however, the greatest source of wealth of the island.

Industry
Unlike agriculture, manufacturing and industry have a small presence at La Palma.  There are some establishments on the island that transform the products of the soil into consumer products or works of art.  Also, thanks to tourism, the construction industry has a growing presence on the island.  There is only one factory, a cigar factory in El Paso.  It employs three hundred workers and produces large quantities of cigars.  Germans are the main market for the cigars.  There are also small shops and embroidered silks.

Trade
The main exports of the island are agricultural products.  Nevertheless, the balance of imports and exports remains negative on the island.  That is, La Palma imports more than it exports.  Among the products exported are bananas, oranges, lemons and agricultural products.  The main imports, usually from the peninsula, are petroleum, consumer products, and electrical and mechanical products.