Decline In Agriculture Contribution To Our GDP
The Reserve Bank of Fiji chief manager economics Caroline Waqabaca says there has been a significant decline in the contribution of agriculture sector to the country’s Gross Domestic Product (GDP).
It only contributed eight per cent which showed a significant decline since the 1990’s.
Ms Waqabaca highlighted this during her presentation at the senior management workshop on Agriculture Data Collection Methodology at the Outrigger Fiji Beach Resort in Korotogo yesterday.
“Agriculture sector contributes around eight per cent of GDP,” she said.
But Ms Waqabaca said the ongoing widespread activities in the country in order to boost the agriculture sector could soon produce enormous growth.
“Nevertheless the agriculture sector remains the largest as a share of total output as of now.”
She outlined, agriculture in the view of RBF, played a very crucial role in the economic development through its linkages considering the macro economy.
“It has a big influence on various sectors of the economy,” she said.
“The vulnerability of agriculture through so many shocks can be noted through disasters, mishaps, commodity demand and demand by exchange partners.”
Ms Waqabaca also told the participants the importance a data carried in the field of agriculture and why it was necessary.
“It is so important to get timely data here so that we can straight away analyse the impact to be able to reassemble the realistic forecast.”
The workshop continues today.
edited by: farzana nisha