Farm’s share to GDP declines.

[Homo Sapiens]

http://www.thefinancialexpress-bd.com/2017/05/17/70599/Farm’s-share-to-GDP-declines.
Published : 17 May 2017, 11:00:07


Farm’s share to GDP declines

Share of agriculture stands at 14.79 per cent of the Gross Domestic Products (GDP) in FY17 which was 15.35 per cent in the past fiscal year.
FE Online Report
Share of agriculture in the country’s national economy is estimated to decline in the current fiscal year (FY17), according to Bangladesh Bureau of Statistics (BBS).

The provisional national accounts, released by the BBS this week, showed that share of agriculture stands at 14.79 per cent of the Gross Domestic Products (GDP) in FY17 which was 15.35 per cent in the past fiscal year (FY16).

Under the broader agriculture sector, there are two sectors.

One is agriculture and forestry and contribution of this sector drops to 11.18 per cent in the current fiscal year from 11.70 per cent in FY16.

The other sector is fisheries and contribution of the sector also declines to 3.61 per cent from 3.654 per cent during the period under review.

The value of agriculture output, at the constant price, however, estimated at Tk 1.34 trillion in the current fiscal year which was Tk 1.30 trillion in FY16.

Though total value of farm output increases, by registering healthy 3.40 per cent growth in the current fiscal year, the comparative value with GDP declines in the current fiscal year.

This is, however, a provisional estimation based on 9-month data. The final estimation will be released by the end of October this year.

 

[Homo Sapiens]

Brain dead jamati may cheer that something is declining in Bangladesh but this is actually a good sign for economy.

 

[Mage]

Brain dead jamati may cheer that something is declining in Bangladesh but this is actually a good sign for economy.

Aye. My concern is too many people are engaged in farming, fishing and agricultural activities. Like almost 40% of the population. We need to move move a good portion of them to industry and service sector. People engaged in Farming and Agriculture shouldn't make more than 20% of the population. Thats why we need to industrialize the country fast.

 

[Stannis Baratheon]

Brain dead jamati may cheer that something is declining in Bangladesh but this is actually a good sign for economy.

Don't you have anything else to do or are you paid by Awami League to write crap at this site? And, no, it's not all good considering the land used for farming is decreasing and so is food production. Thus, making it harder to meet demands and cost of basic food necessities keep on rising. That's how AL increases country's GDP by increasing prices of commodities.

 

[Mage]

We need to move towards more advanced industries. You can only go so far with RMG sweat shops, time to take a new step in industrialization.

I agree. But you see even a garments factory worker earns more than an average farmer. That being said we have to produce enough food in our land. But we have excess workforce employed in the fields. I think same amount of food can be produced by employing much less workforce with the modernization of agriculture.

Don't you have anything else to do or are you paid by Awami League to write crap at this site? And, no, it's not all good considering the land used for farming is decreasing and so is food production. Thus, making it harder to meet demands and cost of basic food necessities keep on rising. That's how AL increases country's GDP by increasing prices of commodities.

Show me data that food production is decreasing.

 

[Homo Sapiens]

Don't you have anything else to do or are you paid by Awami League to write crap at this site? And, no, it's not all good considering the land used for farming is decreasing and so is food production. Thus, making it harder to meet demands and cost of basic food necessities keep on rising. That's how AL increases country's GDP by increasing prices of commodities.

that's why I said brain dead.Have you ever heard the term 'agricultural productivity gain'? Our agricultural output has increased by 2.79 percent in constant prices in last year.Only a brain dead jamati can give logic of incresing price of commodity while GDP is calculated in constant prices.
http://www.thedailystar.net/business/bangladeshs-growth-71pc-riding-industries-1304122

 

[Nilgiri]

That's how AL increases country's GDP by increasing prices of commodities.

Wrong. Would not increase real GDP at all....in fact the multiplier effect from that would increase the deflator and push real GDP down.

And as for total (current prices) GDP, who gives a damn about following that one.

 

[Bilal9]

Show me data that food production is decreasing.

Well I don't think anyone really can......

1. We have three rice crops a year, Aman, Aus & Boro. We used to have one or two.
2. More profitable cash crops are being produced. One example is coffee (you can get Hill Tract blend roasted beans at North End roasters now.), how about exotic high priced crops like dragonfruit, coco, strawberries, blueberries, floriculture, organic tea, stevia etc. All learned from watching Mr. Seraj on Mati O Manush.
3. Third and MOST importantly, planting, spraying and harvesting crops have become highly mechanized. These have boosted productivity by a magnitude of three or four. See below.