Help us improve this section of the site. Can we get your feedback? Click here


Metadata Glossary

Indicator NameAgriculture, value added (annual % growth)
Long definitionAnnual growth rate for agricultural value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.
SourceWorld Bank national accounts data, and OECD National Accounts data files.
TopicEconomic Policy & Debt: National accounts: Growth rates
Aggregation methodWeighted average
Limitations and exceptionsAmong the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Agricultural production often must be estimated indirectly, using a combination of methods involving estimates of inputs, yields, and area under cultivation. This approach sometimes leads to crude approximations that can differ from the true values over time and across crops for reasons other than climate conditions or farming techniques. Similarly, agricultural inputs that cannot easily be allocated to specific outputs are frequently "netted out" using equally crude and ad hoc approximations.
General commentsNote: Data for OECD countries are based on ISIC, revision 4.
License TypeCC BY-4.0