The Peruvian agriculture sector grew 1.5% in 2013 and 1.6% in 2014, according to the central bank, well below overall GDP growth of 5.8% and 2.4%, respectively. In the first six months of 2015 the sector contributed nearly 6% to GDP, and the fishing industry another 0.5%. Yet, while exports have risen strongly, sector growth in the first quarter of 2015 was just 0.5%, although this picked up...
Agriculture
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Chapter | Agriculture & Fisheries from The Report: Peru 2016
After a difficult 2015, marked by lower commodity prices and reduced export revenues, Peru is on track to begin economic recovery in 2016, with increased mineral output set to drive much of its rebound. The IMF forecasts growth to rise to 3.3% in 2016, up from an estimated 2.5% in 2015.
Efforts to promote agricultural self-sufficiency in Papua New Guinea saw a setback in 2015, with droughts and supply chain disruptions impeding sector growth.
Articles & Analysis | Oman's increasing domestic production in agriculture and fisheries to reduce imports from The Report: Oman 2016
The sultanate has ambitious plans to expand production and capabilities in agriculture and fisheries, building up the sector as a contributor to the economy, a key employer and a source of export earnings. Its strategy is based on concrete developments, including supporting new companies that can boost production of dairy, produce, poultry and...
Chapter | Agriculture & Fisheries from The Report: Oman 2016
Oman’s agriculture & fisheries sectors are slated for significant expansion in the years to come as authorities aim to build them up into major contributors to the economy, key employers and significant sources for export earnings. Oman’s Vision 2020 sets the target of raising the agricultural sector’s contribution to GDP to 3.1% by 2020, with annual growth topping 4.5%. It also intends to...
Oman’s long history of political stability coupled with its favorable international trade agreements and special economic zones has ensured strong growth in economic output and exports in recent years. The fall in global prices is undoubtedly a concern for the sultanate, but the sustained focus on diversification schemes, as well as the country’s ongoing spending commitments on big-ticket projects should ensure steady growth moving forward.