How much money do the agricultural industry move?

Introduction

The agricultural industry is a significant economic sector globally, involving various sub-sectors such as agricultural research and development (R&D), equipment markets, and specific crop industries like floriculture. This synthesis aims to provide an overview of the financial magnitude and economic impact of the agricultural industry based on recent research findings.

Key Insights

Global Private Agricultural R&D Spending:
- Private sector investment in agricultural R&D has seen substantial growth, increasing from $5.1 billion in 1990 to $15.6 billion by 2014.
U.S. Net Farm Income:
- The net farm income in the U.S. was projected to grow by 43% year-on-year for 2020, reaching $119 billion, despite the disruptions caused by the COVID-19 pandemic.
Agricultural Equipment Market:
- The global agricultural equipment market has faced challenges due to COVID-19 but is expected to see a 5%+ growth in sales across North America, Europe, and South America in 2021, with a slight contraction in Asia.
U.S. Green Industry Financial Performance:
- The U.S. green industry, including floriculture and environmental horticulture, has been the fastest-growing agricultural sector in terms of grower cash receipts, with an average annual growth rate of 9% since 1982. In 1991, this sector earned $8.7 billion in grower cash receipts, accounting for 11% of total crop receipts.

Conclusion

The agricultural industry moves substantial amounts of money globally, with significant investments in R&D, robust net farm incomes, and a growing market for agricultural equipment. The U.S. green industry, in particular, has shown remarkable growth in cash receipts, highlighting the economic importance of this sector. Despite challenges such as the COVID-19 pandemic, the industry continues to demonstrate resilience and potential for future growth.

How much money do the agricultural industry move?

Summary

Introduction

Key Insights

Conclusion

Sources and full results

The growing role of the private sector in agricultural research and development world-wide

Private agricultural R&D spending has increased from $5.1 billion in 1990 to $15.6 billion by 2014, with most technologies benefiting developing countries.

Market Analysis - Agriculture Congress 2021

The global agriculture equipment market is recovering from the COVID-19 pandemic and is projected to grow by 5%+ across North America, Europe, and South America in 2021, with Asia experiencing marginal contraction.

Financial Performance of U.S. Floriculture and Environmental Horticulture Farm Businesses, 1987-91

The U.S. green industry (floriculture and environmental horticulture) is the fastest growing agricultural sector in grower cash receipts, with an average net farm income of $24,261 in 1991, and receives little government assistance and is under less financial stress than other farm types.

External Costs of Agricultural Production in the United States

US agricultural production causes annual external costs of $5.7 to $16.9 billion, with crop production contributing the most, and a need for policy changes to reduce these impacts.

Sources and Uses of Funds in Agriculture

Agriculture's financial structure is sound, with a surplus of $1.1 billion in 1974, and a deficit of $1.1 billion in 1973.

Characteristics and Salaries of Agricultural Economists

Agricultural economists' employment and salary characteristics differ from general economists and other scientists, with academic degree and length of service having a greater influence on salary variation than age, type of employer, or primary work activity.

Variance of Agricultural Prices, Industrial Prices, and Money

Agricultural prices have greater uncertainty in relation to money supply growth than industrial prices, highlighting the impact of monetary policy shocks on farmers.

Private Industry Investing Heavily, and Globally, in Research To Improve Agricultural Productivity

Private industry is heavily investing in research and development to improve agricultural productivity, with global private-sector investments reaching $11.0 billion in 2010.

U.S. agriculture's role in a greenhouse gas emission mitigation world: An economic perspective

U.S. agriculture can play a role in greenhouse gas mitigation efforts at a low cost, but its role may diminish in the long run due to technical changes and other industries' lower costs.

Projecting Agricultural Productivity and Its Economic Impact

U.S. agricultural research and extension programs have increased in recent decades, but public and private decision makers are demanding greater accountability and productivity from tax dollars.

Try another search