Lesotho | Agriculture, forestry, and fishing, value added (constant 2015 US$)

Agriculture, forestry, and fishing 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. Data are in constant 2015 prices, expressed in U.S. dollars. 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 (constant 2015 US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 80572496.630336
1971 73052229.488305
1972 78680697.885858
1973 101014335.66651
1974 124137962.5002
1975 94320535.097012
1976 88843780.603657
1977 111358880.11286
1978 124136710.86264
1979 128398502.48484
1980 97012387.432232
1981 101421477.93571
1982 87237543.827243
1983 89226353.055978
1984 88233958.777291
1985 96771447.200696
1986 112594777.90823
1987 95721906.236956
1988 98678617.083233
1989 97487701.084508
1990 98870134.776615
1991 72136335.793843
1992 89381654.976716
1993 90864105.933815
1994 91065856.643901
1995 89037333.764836
1996 87755866.296812
1997 86672938.576868
1998 101288299.91174
1999 110145516.01535
2000 105303129.57058
2001 118925441.70607
2002 83980239.099591
2003 86855518.233563
2004 86066947.641194
2005 87260885.611007
2006 78263770.071346
2007 77726971.104554
2008 91503703.044108
2009 97227692.732626
2010 91741655.219638
2011 86898094.263697
2012 94343851.033306
2013 104328711.52833
2014 88180707.827304
2015 89241073.56643
2016 136539472.15146
2017 108947865.07472
2018 94505289.488832
2019 94056683.050753
2020 108283896.85752
2021 119719676.47331
2022 122357202.3409

Lesotho | Agriculture, forestry, and fishing, value added (constant 2015 US$)

Agriculture, forestry, and fishing 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. Data are in constant 2015 prices, expressed in U.S. dollars. 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