The economy of the state is based on agriculture, ranching, forest products, fishing and crafts. Most of the population is employed in three sectors: agriculture, wich principal crops include corn, sorghum, avocados, strawberries, peaches, wheat, limes, sugar cane and mangos. While corn accounts for 43% of the crops harvested, Michoacán is the largest producer of avocados in Mexico and in the world. Forty three percent of farmland in the territory is dedicated to the raising of livestock, including cattle, domestic fowl, sheep, goats and pigs. In 2007, the state's production of meat, dairy and eggs was valued at over four billion pesos.
Mining is an important economic activity in the state, which is mostly concentrated on the eastern side near the Mexico State border. However, iron is mined in the Lázaro Cárdenas area near the coast. Both metallic and non-metallic minerals are mined in the state. These include silver, gold, zinc, cadmium, lead, iron, copper, fill dirt, sand, gravel, lime, limestone, marble, and others.
Manufacturing is major production areas are iron and steel (34.27%), bottling (10.43%) and paper products (8.36%).
GDP MICHOACAN $32 420 million of USD