What Are The Contribution Of Agriculture To Economics Development Of Developing Countries?
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Many developing countries rely on agriculture as their main income generator. Having said that they export raw materials to developed countries which in turn give them capital, this help boost the economy.They can make economic profit by putting in tariffs and quotas when exporting.
Agriculture brings in investors to a developing country; these investors may invest in a piece of land that is producing a certain plant e.g olive plant, they then give the land owners if not owned by them,capital or equipment and machinery to start producing olives. They may also invest in processing outlets that deal with producing olive oil. These investments results in the the investors creating more jobs for the people; with that in mind more jobs mean income to a household and therefore increasing the standard of living in communities which contribute to the economic growth of a country because the unemployment rate will decline.
Agriculture brings in investors to a developing country; these investors may invest in a piece of land that is producing a certain plant e.g olive plant, they then give the land owners if not owned by them,capital or equipment and machinery to start producing olives. They may also invest in processing outlets that deal with producing olive oil. These investments results in the the investors creating more jobs for the people; with that in mind more jobs mean income to a household and therefore increasing the standard of living in communities which contribute to the economic growth of a country because the unemployment rate will decline.
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