Korea, Rep. | 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
Republic of Korea
Records
63
Source
Korea, Rep. | Agriculture, forestry, and fishing, value added (annual % growth)
year value
1960
1961 14.90460801
1962 -6.33307271
1963 9.56803005
1964 15.97837243
1965 1.18419852
1966 8.85779204
1967 -5.06079581
1968 0.1221406
1969 9.04741988
1970 -0.71357226
1971 5.52345234
1972 3.02482553
1973 6.59308119
1974 6.30473584
1975 5.30362918
1976 8.95938157
1977 3.03830911
1978 -9.89445181
1979 11.42559259
1980 -16.1449762
1981 15.73330183
1982 7.81354567
1983 9.31567236
1984 -2.60721435
1985 5.94298137
1986 5.22390844
1987 -4.34227614
1988 9.39941248
1989 -0.13849594
1990 -5.63319351
1991 3.19057614
1992 8.97481685
1993 -4.21975668
1994 0.11809085
1995 6.82201818
1996 3.88923788
1997 4.31111862
1998 -7.56235958
1999 5.12463971
2000 0.29566835
2001 0.4082085
2002 -3.01839588
2003 -6.15032095
2004 7.69330272
2005 0.57316377
2006 2.31205891
2007 4.99347044
2008 6.43858985
2009 4.63377932
2010 -3.64336853
2011 -1.02435929
2012 -0.49556445
2013 4.19793752
2014 5.08160155
2015 -0.246792
2016 -5.6342776
2017 2.25367746
2018 0.15408705
2019 3.93594359
2020 -5.78701345
2021 5.18133561
2022 -1.01237345

Korea, Rep. | 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
Republic of Korea
Records
63
Source