Moe

Moe, Victoria, Australia
Town Profile
Town Profile
Photos
Location of Town
Town Reviews
  • Primary sector of the economy

    The primary sector of the economy includes any industry involved in the extraction and collection of natural resources; such as farming, forestry, mining and fishing. [1]

    The primary sector tends to make up a larger portion of the economy of developing countries than it does in developed countries. For example, animal husbandry is more common in countries in Africa than it is in Japan.[2]

    Mining in 19th-century South Wales provides a case study of how an economy can come to rely on one form of activity.[3]

    In developed countries the primary industry has become more technologically advanced, for instance the mechanization of farming as opposed to hand picking and planting.[4] In more developed countries, additional capital is invested in primary means of production. As an example, in the United States’ corn belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological advances and investment allow the primary sector to require less workforce and, this way, developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors.[5]

    Developed countries are allowed to maintain and develop their primary industries even further due to the excess wealth. For instance, European Union agricultural subsidies provide buffers for the fluctuating inflation rates and prices of agricultural produce. This allows developed countries to be able to export their agricultural products at extraordinarily low prices. This makes them extremely competitive against those of poor or underdeveloped countries that maintain free market policies and low or non-existent tariffs to counter them.[6][7][8] Such differences also come about due to more efficient production in developed economies, given farm machinery, better information available to farmers, and often larger scale.

    List of countries by agricultural output

    Largest countries by agricultural output (in PPP terms) according to IMF and CIA World Factbook, at peak level as of 2018
    Economy
    Countries by agricultural output (in PPP terms) at peak level as of 2018 (billions in USD)
    (01)  China

    2,101

    (02)  India

    1,602

    (03)  Indonesia

    486

    (—)  European Union

    352

    (04)  Pakistan

    284

    (05)  Nigeria

    253

    (06)  Brazil

    209

    (07)  Russia

    196

    (08)  United States

    185

    (09)  Iran

    162

    (10)  Turkey

    155

    (11)  Egypt

    154

    (12)  Thailand

    109

    (13)  Vietnam

    108

    (14)  Bangladesh

    108

    (15)  Argentina

    101

    (16)  Mexico

    100

    (17)  Philippines

    92

    (18)  Myanmar

    89

    (19)  Algeria

    87

    (20)  Malaysia

    84

    The twenty largest countries by agricultural output (in PPP terms) at peak level as of 2018, according to the IMF and CIA World Factbook.

    See also

    References

    1. ^ “Primary sector of the economy”. Economics Help. Retrieved 24 January 2018.
    2. ^ Scott, C. D. (2 July 1986). “Review of The Primary Sector in Economic Development”. Economica. 53 (211): 414–416. doi:10.2307/2554153. JSTOR 2554153.
    3. ^
      Mining: it’s only a word Archived 2007-01-23 at the Wayback Machine
    4. ^ “Employment in agriculture (% of total employment) (modeled ILO estimate) – Data”. data.worldbank.org.
    5. ^ H Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China’s Developmental Experience (Mar., 1973)
    6. ^ WTO MINISTERIAL OUTCOME IMBALANCED AGAINST DEVELOPING COUNTRIES Archived 2006-08-23 at the Wayback Machine
    7. ^ Third World Farmers Hit by Unfair Rules Archived 2006-09-09 at the Wayback Machine
    8. ^ “U.S. subsidies help big business, but crush farmers from developing countries”. www.finalcall.com.

    Further reading

    • Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China’s Developmental Experience (Mar., 1973)
    • Cameron: General Economic and Social History
    • Historia Económica y Social General, by Maria Inés Barbero, Rubén L. Berenblum, Fernando R. García Molina, Jorge Saborido

    External links


  • No Records Found

    Sorry, no records were found. Please adjust your search criteria and try again.

    Google Map Not Loaded

    Sorry, unable to load Google Maps API.

  • Leave a Review

    Your email address will not be published. Required fields are marked *

PUT YOUR BUSINESS ON

THE  AUSTRALIAN MAP

Click for Free Business Listing