Small states - Agriculture, value added (constant 2010 US$)

The latest value for Agriculture, value added (constant 2010 US$) in Small states was 13,454,810,000 as of 2020. Over the past 31 years, the value for this indicator has fluctuated between 13,454,810,000 in 2020 and 8,769,948,000 in 1989.

Definition: 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. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1989 8,769,948,000
1990 8,922,342,000
1991 9,027,651,000
1992 9,222,669,000
1993 9,267,759,000
1994 9,576,281,000
1995 9,945,563,000
1996 10,381,840,000
1997 10,125,810,000
1998 10,134,960,000
1999 10,478,720,000
2000 10,506,750,000
2001 10,681,170,000
2002 10,856,940,000
2003 11,052,080,000
2004 11,074,370,000
2005 11,171,870,000
2006 11,331,420,000
2007 11,290,270,000
2008 11,089,610,000
2009 11,272,560,000
2010 11,428,500,000
2011 11,593,210,000
2012 12,019,740,000
2013 11,948,280,000
2014 12,179,960,000
2015 12,433,030,000
2016 12,516,670,000
2017 12,699,730,000
2018 12,997,950,000
2019 13,302,290,000
2020 13,454,810,000

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

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.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Base Period: 2010

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts