GDP contribution of total agriculture Myanmar FY 2011-2020
The availability of fertile lands and an abundance of fresh water resources make Myanmar an ideal place for agricultural practices. Agriculture has always been considered a pillar of the country’s economy. It has generated wealth and employs a large number of people. In 2020, the agricultural sector’s gross domestic product (GDP) contribution was almost 24.53 trillion Myanmar kyat.
Agriculture in Myanmar
Agriculture is a practice that involves not only the cultivation of crops but also the raising of livestock. As a result, it consists of a variety of sub-sectors such as fisheries and forestry. Since agriculture involves so many revenue-generating sub-sectors, it has a direct impact on the GDP, which is a measure of the total production value of a country. The fresh vegetable production volume in Myanmar from 2010 to 2018 showed consistency with maximum production achieved during 2018. Additionally, the cattle stock in Myanmar from 2009 to 2018 showed continuous growth.
The impact of agriculture on economy
The agricultural sector in Myanmar contributes a major share to the GDP of the country. Even after a decrease in the last few years, the agriculture sector still accounted for more than 20 percent of the GDP. The real GDP growth in Myanmar due to the agricultural sector showed positive growth for all financial years except 2016 when a negative growth rate of 0.5 percent was witnessed. However, the forecast for the year 2020 and 2021 suggested an increase in growth.
Agriculture in Myanmar
Agriculture is a practice that involves not only the cultivation of crops but also the raising of livestock. As a result, it consists of a variety of sub-sectors such as fisheries and forestry. Since agriculture involves so many revenue-generating sub-sectors, it has a direct impact on the GDP, which is a measure of the total production value of a country. The fresh vegetable production volume in Myanmar from 2010 to 2018 showed consistency with maximum production achieved during 2018. Additionally, the cattle stock in Myanmar from 2009 to 2018 showed continuous growth.
The impact of agriculture on economy
The agricultural sector in Myanmar contributes a major share to the GDP of the country. Even after a decrease in the last few years, the agriculture sector still accounted for more than 20 percent of the GDP. The real GDP growth in Myanmar due to the agricultural sector showed positive growth for all financial years except 2016 when a negative growth rate of 0.5 percent was witnessed. However, the forecast for the year 2020 and 2021 suggested an increase in growth.
