Status of Agricultural Trade in Asia Pacific Region: A Recent Study

The purpose of this study was to determine the growth rate of agricultural exports and imports in major Asian Pacific countries as well as the broader Asia Pacific area. Data over a 27-year period, from 1992 to 2018, is used in the analysis. Indonesia has the highest compound annual growth rate for agricultural commodity exports in terms of value (10.28 percent), followed by India (9.52 percent), China (8.60 percent), Thailand (6.30 percent), and Australia (6.30 percent) (4.68 percent ). Due to a growth in the unit value of commodities, agricultural commodity exports for key exporting countries in Asia Pacific have shown an upward tendency in terms of value. Agriculture exports from the Asia Pacific region and the rest of the globe grew at a positive and significant annual pace of 7.90% and 7.09%, respectively. India, China, Indonesia, Republic of Korea, and Japan, the key importing countries, experienced positive and significant growth rates of 12.92, 12.89, 8.64, 5.92, and 1.78 percent each year, respectively. Because of rising affluence, changing lifestyles, and fluctuating commodity prices, agricultural commodity imports are on the rise in terms of value. In addition, agricultural commodity imports to the Asia Pacific area (7.29 percent) and the rest of the world are on the rise (6.94 percent ). In terms of agricultural exports and imports from Asia, the share of animal and fibre products declined over time, while the share of vegetable and food products increased. Vegetable goods had a growth rate of 9.33 percent for exports and 9.29 percent for imports, respectively. Due to an increase in the share of vegetable products in agricultural exports and imports, the growth rate of both agricultural exports and imports is growing across the entire Asia Pacific area. Reforms are needed to liberalise logistics, facilitate the adoption of contemporary information and communication technologies, promote competition among service providers, and improve access to credit and trade financing.

Author(S) Details

P. Soumya
Department of Agricultural Economics, S. V. Agricultural college, ANGRAU, Tirupati, India.

R. A. Yeledhalli
Department of Agribusiness Management, College of Agriculture, UAS Dharwad, India.

View Book:- https://stm.bookpi.org/CTAS-V2/article/view/4420

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