Gross domestic product and agriculture value added 2013–2022. Global and regional trends

The FAOSTAT Macro Indicators database provides macroeconomic indicators at the country and regional levels relating to total economy; agriculture, forestry and fishing; manufacturing; agriculture sub-industry (agriculture) and manufacturing sub-industry (food and beverages products; tobacco products; food, beverages and tobacco products). It releases time series for a selection of national accounts variables, including gross domestic product, gross fixed capital formation, value added of agriculture forestry and fishing and of manufacturing, gross national income, value added and gross output of agriculture sub-industry. The database also proposes additional indicators such as gross domestic product per capita, gross national income per capita, and year-on-year growth rates and shares of industries’ contribution to gross domestic product.

The database includes statistics of 218 countries and territories, including former countries. FAO compiles aggregate values at the regional and global levels. The time coverage is annual from 1970 to 2020.

Main findings:

• The global gross domestic product (GDP) grew from USD 70.5 trillion in 2013 to USD 89.5 trillion in 2022, at an average annual rate of 2.7 percent that is 0.5 percent lower than in the 2003–2012 decade. The COVID-19 pandemic years of 2020 and 2021 deviated from this upward trend, as GDP fell by 3.0 percent in 2020 then soared by 6.2 percent in 2021.
• The global GDP grew by 3.1 percent in 2022, as the war in Ukraine, the aftereffects of the pandemic and the increase in interest rates to fight inflation hampered the recovery.
• Investment in capital, measured by the share of the gross fixed capital formation (GFCF) in GDP, grew from 24.8 percent in 2013 to 26.0 percent in 2022.
• The global agriculture value added increased by 2.9 percent on average each year from USD 3.0 trillion in 2013 to USD 3.8 trillion in 2022.
• After surging in 2020, the global share of agriculture value added in GDP resumed its declining trend and reached 4.3 percent in 2022, which is still above the pre-pandemic level.