Micronesia: Value added in the agricultural sector as percent of GDP
For that indicator, The World Bank provides data for Micronesia from 1983 to 2018. The average value for Micronesia during that period was 25.28 percent with a minimum of 21.96 percent in 2004 and a maximum of 42.16 percent in 1983.
The latest value from 2018 is 22.51 percent. For comparison, the world average in 2018 based on 161
countries is 10.39 percent.
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The importance of agriculture in the economy of Micronesia and other countries is measured as the value added of the agricultural sector as percent of GDP. Agriculture includes forestry, hunting, and fishing, as well as the cultivation of crops and livestock production.
Definition: Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.