Guyana | Agriculture, forestry, and fishing, value added (annual % growth)
Annual growth rate for agricultural, forestry, and fishing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Agriculture corresponds to ISIC divisions 01-03 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 4. 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.
Publisher
The World Bank
Origin
Co-operative Republic of Guyana
Records
63
Source
Guyana | Agriculture, forestry, and fishing, value added (annual % growth)
1960
5.55065481 1961
-0.89468368 1962
-7.65334375 1963
-0.99800827 1964
8.67629348 1965
-6.83626411 1966
3.21917427 1967
-6.66214374 1968
9.72827942 1969
-1.85064941 1970
11.05952073 1971
-7.18170351 1972
-4.16809987 1973
81.16838182 1974
12.64187724 1975
-26.51147996 1976
-12.101204 1977
6.11284637 1978
-3.5729922 1979
5.72068238 1980
-7.84660136 1981
-6.68132356 1982
-8.50362182 1983
-0.03188523 1984
10.48209195 1985
-0.60215477 1986
15.59959081 1987
-15.79528104 1988
-2.48847926 1989
-15.12287335 1990
14.47661481 1991
27.23735401 1992
5.35168195 1993
11.17561676 1994
7.96344645 1995
7.67835554 1996
3.31274564 1997
-6.41304351 1998
14.63414648 1999
-10.18237084 2000
3.72250416 2001
6.03588904 2002
-1.74358977 2003
3.18371622 2004
-13.70763785 2005
3.98858565 2006
0.56037638 2007
2.34100663 2008
3.22368063 2009
1.68417498 2010
4.62430145 2011
4.76211731 2012
4.056146 2013
7.67414457 2014
3.25050386 2015
-11.10760996 2016
12.66590247 2017
6.63128131 2018
-0.49547254 2019
4.14949744 2020
-9.07023609 2021
11.93827135 2022
Guyana | Agriculture, forestry, and fishing, value added (annual % growth)
Annual growth rate for agricultural, forestry, and fishing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Agriculture corresponds to ISIC divisions 01-03 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 4. 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.
Publisher
The World Bank
Origin
Co-operative Republic of Guyana
Records
63
Source