Importance and share of agribusiness in the Chinese economy (2000-2014).

Abstract

This paper analyzes the importance and share of agribusiness and its aggregates in the Chinese national economy in the context of economic growth observed in 2000-2014. Based on National Input-Output Tables (NIOT) data, the share of agribusiness in Gross Domestic Product (GDP), employment, and global output was found to have declined due to a decrease in the share of agriculture itself. Hence, the increase in agribusiness GDP was primarily driven by the supply-related aggregate. In turn, the food industry provided the greatest momentum for growth in global output of agribusiness. This research also found that the GDP of the agriculture-based aggregate had a large share in its global output. This means that compared to other sectors, agricultural production demonstrated low levels of direct material intensity, which is important from the perspective of material efficiency and sustainable development.