Jumilla is based on an agricultural based economy. The main cultivation are vineyards, olive trees and fruits trees.
Jumilla is home to a large photovoltaic solar power farm, with an installed peak power capacity of 20 megawatts. The solar farm consists of 120,000 solar panels and covers 100 hectares (247 acres). The farm's total annual production will be the equivalent of the energy used by 20,000 homes. The solar panels are owned by groups of investors. It is expected to generate an estimated annual income of $28 million (€19 million) and a reduction in CO2 emissions of 42,000 tons a year. Powerlight provided single-axis solar trackers to improve the system's performance. Jumilla, with neighboring Yecla, is one of the primary regions for development of the Murciana and Granadina breeds of dairy goats.
Jumilla is also a wine-producing region. Jumilla's wine production and wine culture are particularly notable for its use of Monastrell as a varietal.