COMCEC Agriculture Outlook 2016

Percent

OIC Agr. Growth Rate

World Agr. Growht Rate

Table 1 illustrates the top 10 OIC Member Countries regarding the agricultural value

added and the share of agriculture sector in their economy in 2014. Indonesia had the highest

contribution to the agricultural value added in the OIC with a 119 billion US Dollars, which

accounted for the 17.4 percent of OIC agricultural output in 2014. Nigeria was the second

country which contributed 114 billion US Dollars to the OIC agricultural GDP, with a share of

16.7 percent. In 2014, the top ten countries produced 525 billion US Dollars agricultural GDP

which was more than 75 percent of total agricultural GDP of 57 OIC Member Countries. The

importance of agriculture sector in the top ten national economies differs across countries. For

instance, as of 2014, the share of agricultural GDP in country’s total GDP was the highest in

Sudan with 32.2 percent. In the top ten country rankings, Turkey, Iran and Malaysia were only

three countries whose shares of agriculture sector in the economy were lower than 10 percent

in 2014.

1.2.

Growth Rates

The growth rate provides insight into the general direction and magnitude of growth for

a sector or for an overall economy in a specific period. It can be calculated as nominal growth

and real growth, and shows the performance of countries providing some comparisons in

different sectors, economies and time intervals. Since the agricultural sector heavily depends

on the external factors such as natural rainfall, weather, temperature, climatic changes, water

level and soil condition, the real growth rate which is adjusted by price effect has shown a

fluctuating path in years. This is explained by the nature of the agriculture sector. Moreover,

the more fluctuation in agricultural growth rates in an economy is a clear sign that the

dependence of agriculture sector to the nature is large.

Figure 5. Agricultural Growths in the OIC and World

Source: Calculated by using UNSTAT