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Global Economic Monitor (GEM) was updated on November 29, 2023
Quarterly Public Sector Debt was updated on November 10, 2023
Quarterly External Debt Statistics GDDS was updated on October 31, 2023
World Development Indicators was updated on October 26, 2023
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Agriculture, value added (% of GDP)
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.
World Bank national accounts data, and OECD National Accounts data files.
Economic Policy & Debt: National accounts: Shares of GDP & other
Limitations and exceptions
Among 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.
Note: Data for OECD countries are based on ISIC, revision 4.
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