✓ What Are The Role And Importance Of Agriculture

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The Role And Importance Of Agriculture:

  • Foreign exchange earning
  • Contribution to GNP
  • Food security
  • Employment ratio of imported food to local produce
  • National and regional plan for agricultural development
  • Trade liberalization

Food Security: is described as  a state where a country always have abundance to feed its people nutrition. (to allow purchasing of essential food supply particularly after) we can there fore say in case of Dominica our food security rate is low because of the few agricultural produce available is in sufficient to provide for a healthy diet plus there is little economic means(since most of the farmers has lost there earning power)  or purchasing essential foods.

Contribution to GNP (Gross National Products): this is a measure of the national economic well being, meaning when the aggregate output is on the rise the country is experiencing what is referred to as economic growth. ie. the people of the country is gaining prosperity and experiencing a decent standard of living. the sum, money values all final goods and services produced in the domestic economy and sold on a organized market , for usually a year.

Foreign exchange earnings: the income in which  a country gains from the export of goods and services.

National and regional plan for agricultural development:

  1. Loans: Aid Bank
  2. Agricultural incentives (Fertilizers, Farm access, roads , duty free vehicles)
  3. Infrastructure (Farm access roads, farm irrigation)

Trade liberalization: The removal or reduction in trade practices that thwart free flow or good of goods and services from one country to another, it includes dismantling of tariffs (duties, surcharges, export subs dies non tariffs )  (licensing regulations, quotes)

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