Belize - Agriculture, value added (% of GDP)

Agriculture, value added (% of GDP) in Belize was 10.71 as of 2020. Its highest value over the past 42 years was 28.98 in 1978, while its lowest value was 8.97 in 2019.

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.

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

See also:

Year Value
1978 28.98
1979 28.06
1980 22.88
1981 22.39
1982 19.03
1983 18.59
1984 17.73
1985 17.37
1986 17.84
1987 19.05
1988 18.11
1989 17.29
1990 17.25
1991 15.86
1992 15.39
1993 14.55
1994 14.58
1995 15.43
1996 15.29
1997 14.93
1998 14.27
1999 15.06
2000 14.65
2001 13.16
2002 12.79
2003 14.60
2004 14.42
2005 13.48
2006 12.82
2007 11.70
2008 11.12
2009 11.25
2010 11.66
2011 11.65
2012 13.43
2013 13.71
2014 13.72
2015 12.93
2016 11.10
2017 11.20
2018 9.56
2019 8.97
2020 10.71

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: Weighted average

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