Lesotho | 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
Kingdom of Lesotho
Records
63
Source
Lesotho | Agriculture, forestry, and fishing, value added (annual % growth)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 -9.33354117
1972 7.70471817
1973 28.38515466
1974 22.89143089
1975 -24.01958821
1976 -5.80653459
1977 25.34234738
1978 11.47446053
1979 3.43314366
1980 -24.44429993
1981 4.54487372
1982 -13.98513845
1983 2.27976298
1984 -1.11222105
1985 9.67596665
1986 16.3512391
1987 -14.98548333
1988 3.08885496
1989 -1.20686328
1990 1.41805959
1991 -27.03930671
1992 23.90656386
1993 1.65856289
1994 0.22203565
1995 -2.22753396
1996 -1.43924735
1997 -1.23402317
1998 16.86265814
1999 8.74455995
2000 -4.39635368
2001 12.93628422
2002 -29.38412682
2003 3.42375678
2004 -0.90791076
2005 1.38722007
2006 -10.31059389
2007 -0.68588437
2008 17.72451923
2009 6.25547327
2010 -5.64246395
2011 -5.27956569
2012 8.56837751
2013 10.58347776
2014 -15.47800549
2015 1.20249175
2016 53.0007055
2017 -20.20778801
2018 -13.25640991
2019 -0.47468924
2020 15.12621256
2021 10.5609236
2022 2.20308469

Lesotho | 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
Kingdom of Lesotho
Records
63
Source