Positive outlook on agriculture good news for GDP
Official figures show the farmgate contribution to GDP has ranged from 2.8% in 1994 to 2.1% in 2016
As with everything else, the state of agribusiness in SA depends on whom you ask, which in this instance must begin with Statistics SA’s numbers for the contribution agriculture makes to GDP. The agency reported in March that in 2017 SA’s economy as measured in GDP grew 1.3%, which was better than the 1% forecast by the government. This is largely attributed to the aggregate increase in agriculture‚ forestry and fisheries of 17.7%, culminating in the export of farm goods worth more than R130bn for the year. In the last quarter of 2017, the growth was 37.5%. These numbers should give substance to the confident mood at the 2018 Nampo agriculture and agribusiness exhibition, which is held in mid-May each year near Bothaville in the Free State. The show, the biggest in the southern hemisphere, represents national agricultural production worth more than R275bn and a contribution to GDP of about R80bn, according to the Department of Agriculture’s statistics for 2016. Afgri Agri Services C...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.