Korea, Rep. | Agriculture, forestry, and fishing, value added (current US$)

Agriculture, forestry, and fishing corresponds to ISIC divisions 1-3 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. Data are in current U.S. dollars. 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 (current US$)
year value
1960 1447920792.0792
1961 935158347.87089
1962 1030769230.7692
1963 1719230769.2308
1964 1609564234.5662
1965 1171167654.1512
1966 1351453448.1964
1967 1466822565.8527
1968 1723146993.4392
1969 2104727638.1798
1970 2385078623.5517
1971 2687618375.4744
1972 2879146599.7716
1973 3414576710.232
1974 4724177787.1178
1975 5334090909.0909
1976 6891528925.6198
1977 8377479338.843
1978 10351239669.421
1979 12409504132.231
1980 9331901075.4281
1981 10958575436.586
1982 10972744315.908
1983 11080011390.292
1984 11577022535.912
1985 11906048136.824
1986 12183956920.28
1987 13772851468.117
1988 18404351904.245
1989 21091485098.498
1990 21554212547.06
1991 22564976526.321
1992 23491681555.953
1993 23225710963.947
1994 26232634485.114
1995 30191243493.065
1996 30268257958.542
1997 25497503808.516
1998 16199375968.961
1999 21143124924.137
2000 22227802547.841
2001 19528431799.792
2002 20114567452.993
2003 20832665471.761
2004 23462280209.744
2005 24494181180.719
2006 26303780777.04
2007 26775576581.427
2008 22436617250.431
2009 21149554008.442
2010 24520519516.455
2011 27687671900.853
2012 27940462192.85
2013 28770231487.718
2014 30531134835.303
2015 29378068486.519
2016 27879571059.665
2017 30039147629.25
2018 30131981315.865
2019 27544594684.464
2020 29033968450.158
2021 33743994610.961
2022 27479802302.333

Korea, Rep. | Agriculture, forestry, and fishing, value added (current US$)

Agriculture, forestry, and fishing corresponds to ISIC divisions 1-3 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. Data are in current U.S. dollars. 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