Agricultural performance of oil-dependent economies

Katarzyna Czech

Roczniki (Annals), 2018, vol. 2018, issue 6

Abstract: The aim of the paper is to present the agricultural performance of oil-dependent economies. Based on oil rents as a share of GDP ratio, twenty of the most oil-dependent countries are selected. It is shown that food exports constitute a tiny part of total merchandise exports. It concerns all selected countries apart from Ecuador and Norway. Moreover, agriculture value added is a minor component of GDP for the majority of selected oil-dependent economies. Chad and Nigeria are distinguished by the highest agricultural value added to GDP ratio. Qatar, Kuwait and the United Arab Emirates, on the other hand, are among countries in which the ratio is lower than 1%. Many oil-dependent countries have neglected the rural economy since oil discovery. The agricultural sector is largely ignored in favour of the oil and gas industry. However, it should be emphasized that although agriculture constitutes only a minor share of GDP, in many oil-dependent developing countries, the agricultural sector still provides the main livelihood for most people.

Keywords: Agribusiness; Agricultural and Food Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:paaero:293776

DOI: 10.22004/ag.econ.293776

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