Finance:Primary sector of the economy
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining.[1][2][3]
The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa[4] but less than 1% of GDP in North America.[5]
In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods[lower-alpha 1] in poorer countries.[6] More developed economies may invest additional capital in primary means of production: for example, in the United States corn belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological advances and investment allow the primary sector to employ a smaller workforce, so developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors.[7]
List of countries by agricultural output
| Economy | Countries by agricultural output (in PPP terms) at peak level as of 2018 (billions in United States dollar )
| ||||||||
|---|---|---|---|---|---|---|---|---|---|
(01)  China
|
2,101
| ||||||||
(02)  India
|
1,400
| ||||||||
(03)  Indonesia
|
486
| ||||||||
(—)  European Union
|
352
| ||||||||
(04)  Pakistan
|
284
| ||||||||
(05)  Nigeria
|
253
| ||||||||
(06)  Brazil
|
209
| ||||||||
(07)  Russia
|
196
| ||||||||
(08)  United States
|
185
| ||||||||
(09)  Iran
|
162
| ||||||||
(10)  Turkey
|
155
| ||||||||
(11)  Egypt
|
154
| ||||||||
(12)  Thailand
|
109
| ||||||||
(13)  Vietnam
|
108
| ||||||||
(14)  Bangladesh
|
108
| ||||||||
(15)  Argentina
|
101
| ||||||||
(16)  Mexico
|
100
| ||||||||
(17)  Philippines
|
92
| ||||||||
(18)  Myanmar
|
89
| ||||||||
(19)  Algeria
|
87
| ||||||||
(20)  Malaysia
|
84
| ||||||||
|
The twenty largest countries by agricultural output (in PPP terms) at peak level as of 2018, according to the IMF and CIA World Factbook. | |||||||||
See also
Notes
- ↑ Often using non-powered equipment, sometimes even hand-picking and hand-planting
References
- ↑ Chand, S. N. (2006). Dictionary of economics. New Delhi: Atlantic Publishers & Distributors. pp. 268. ISBN 81-269-0535-2. OCLC 297507928.
- ↑ "primary producer". CollinsDictionary.com. HarperCollins. https://www.collinsdictionary.com/dictionary/english/primary+producer.
- ↑ Kjeldsen-Kragh, Søren (2007). The Role of Agriculture in Economic Development: The Lessons of History. Copenhagen Business School Press DK. pp. 73. ISBN 978-87-630-0194-6.
- ↑ "Agriculture, forestry, and fishing, value added (% of GDP) | Sub-Saharan Africa". World Bank Open Data. 2018. https://data.worldbank.org/indicator/NV.AGR.TOTL.ZS?locations=ZG.
- ↑ "Agriculture, forestry, and fishing, value added (% of GDP) | North America". World Bank Open Data. 2018. https://data.worldbank.org/indicator/NV.AGR.TOTL.ZS?locations=XU.
- ↑ "Employment in agriculture (% of total employment) (modeled ILO estimate) - Data". http://data.worldbank.org/indicator/SL.AGR.EMPL.ZS/countries/1W-US-C5?display=graph.
- ↑ H Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China's Developmental Experience (March 1973)
Further reading
- Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China's Developmental Experience (Mar., 1973)
- Cameron: General Economic and Social History
- Historia Económica y Social General, by Maria Inés Barbero, Rubén L. Berenblum, Fernando R. García Molina, Jorge Saborido
External links
 |  |
