Open AccessTrends in Agricultural Trade of Asia Pacific Region
Author(s) -
P. Soumya,
R. A. Yeledhalli
Publication year - 2021
Publication title -
current journal of applied science and technology
Language(s) - English
Resource type - Journals
ISSN - 2457-1024
DOI - 10.9734/cjast/2021/v40i1031358
Subject(s) - agriculture , competition (biology) , international trade , business , agricultural economics , asia pacific , economics , geography , biology , ecology , archaeology
The present study was carried out to assess the growth rate in agricultural exports and imports of Asia Pacific region. Data for a period of 27 years i.e., from 1992 to 2018 is considered for analysis. The agricultural exports from Asia Pacific region and the world showed positive and significant annual growth rate of 7.90 per cent and 7.09 per cent, respectively. And also, there is increasing trend in import of agricultural commodities to Asia Pacific region (7.29%) and world (6.94%). In case of Asia Pacific agricultural exports as well as imports, the share of Animal and Fibre products decreased whereas share of Vegetable and Food products increased gradually over the study period. The growth rate of Vegetable products is 9.33 and 9.29% in case of exports and imports, respectively. The growth rate of both agricultural exports and imports is increasing for entire Asia Pacific region due to increasing share of Vegetable products. To maintain the increasing trend there is a need to focus on liberalizing logistics, facilitating adoption of modern information and communication technologies promoting competition among service providers and improving access to credit and trade finance.