The main economic activity practiced in Guaymas is fishing, contributing with 70% of the fishing production in the state of Sonora, capturing species such as sardine, shrimp, and squid. Within commercialization of fishing products, 45% is destined for national and international markets, exporting mainly shrimp. The other 55% is for state consumption.

Tourist activity is also very important in Guaymas, generating more than 8,000 jobs in the city. The tourist zone is located northwest of the port, in where San Carlos Bay and its surroundings the mosr important destination of the region, and to a lesser extent, Bacochibampo Bay or Miramar.

Within mining, graphite is produced at small scale, and at less quantities, gold, silver, and lead.

Guaymas counts with the only pearl farm in all America. Oyster pearl fishing in the Gulf of California was a strong tradition that began in the XVI century, but ended in the beginnings of the XX century, due to over fishing and an excessive mortality of unknown causes.