Korea, Rep. | Agriculture, forestry, and fishing, value added (% of GDP)

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. Note: For VAB countries, gross value added at factor cost is used as the denominator. 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 (% of GDP)
year value
1960 36.57462985
1961 38.68080875
1962 36.62202788
1963 43.1051109
1964 46.53237799
1965 37.52706279
1966 34.39639809
1967 30.20706456
1968 28.15878079
1969 27.40995164
1970 26.48573268
1971 27.13787086
1972 26.50608056
1973 24.60695095
1974 24.17204301
1975 24.48594408
1976 23.04668067
1977 21.78997318
1978 19.91691347
1979 18.53633847
1980 14.26931587
1981 15.02542793
1982 14.00327476
1983 12.62527523
1984 11.87256096
1985 11.75369938
1986 10.4282338
1987 9.3092069
1988 9.22101967
1989 8.54152367
1990 7.60649633
1991 6.82449065
1992 6.60760508
1993 5.91488137
1994 5.65822106
1995 5.32867204
1996 4.96065098
1997 4.47516964
1998 4.2259407
1999 4.24975442
2000 3.85779204
2001 3.56581902
2002 3.20680204
2003 2.96459728
2004 2.95801854
2005 2.61997573
2006 2.49747042
2007 2.28340908
2008 2.14224974
2009 2.24055681
2010 2.14401632
2011 2.20919996
2012 2.18618504
2013 2.09904711
2014 2.05667705
2015 2.00390779
2016 1.85903488
2017 1.8507563
2018 1.74640339
2019 1.66793098
2020 1.76572048
2021 1.85566426
2022 1.64164717

Korea, Rep. | Agriculture, forestry, and fishing, value added (% of GDP)

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. Note: For VAB countries, gross value added at factor cost is used as the denominator. 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