Orahovica has a well-developed industry (tile production, panel-parquet, wine production, fruit and vegetables processing, metal processing...). Agriculture plays an important role for the town economy (crop and livestock farming, fresh water fish, fruit and vineyards).
The name Orahovica is derived from the word orah, meaning a walnut tree.
Orahovica was first officially mentioned in the year 1228, in a historical document issued by king Andrew II. Ružica fortification, not far from Orahovica, was first mentioned in the year 1357 as a royal estate. In the 15th and the first half of the 16th century the town was a thriving community owned by various patricians Nikola Kont, Lovro Iločki, Ladislav More etc.
Suleiman II, in his 1543 campaign, conquered Orahovica. The Turkish rule lasted till the year 1687 in which period the town became a notable sandjak. After the liberation, and up until the end of the 19th century many prominent noble families, like the Pejačević family, and the Mihalović family, owned the town.
Orahovica became one of the most popular tourist destinations in Virovitica-Podravina County and Slavonia. Its culture, events, beautiful nature, sports and lake attract more and more tourists every year.
The nearby Orahovica Lake offers various forms of recreation, especially during the warm season of the year. Fishing opportunities are offered on the nearby fishpond Grudnjak.