Economics statistics - Data
FAO’s economics statistics collects and disseminates data through FAOSTAT domains relating to macroeconomic statistics on the contribution of agriculture to economic growth, gross value added, capital formation and capital stocks, and implicit price deflators.
FAOSTAT domains relating to agricultural investments, particularly relating to agricultural public spending based on Indicator 2.a.1 of the Sustainable Development Goals (Agriculture Orientation Index for Government Expenditures), agricultural public expenditures, credit to agriculture, foreign direct investment and development aid flows to agriculture fall under the umbrella of economic statistics as well.
Economics statistics provides data on price statistics, especially producer price indices, consumer prices, and related Indices and exchange rates, that are regularly uploaded in their respective FAOSTAT domains.
Data on SDG 2. a.1 (Agriculture Orientation Index for Government Expenditure) provided through FAO’s work on economic statistics, contribute to international reporting on the indicator. The work includes the production of FAO’s aid statistics for inclusion in the Creditor Reporting System (CRS) of the Organization for Economic Co-operation and Development (OECD).
Agricultural producers and consumers prices
FAO collects, harmonizes and disseminates data on agricultural producer and consumer prices with a worldwide scope.
Producer prices are prices received by farmers for primary crops, live animals and livestock primary products as collected at the point of initial sale (prices paid at the farm-gate). The data source for producer prices are the questionnaire administered by FAO to member countries Statistical Offices, supplemented by in-house estimations, that address data gaps. The FAO Agricultural Producer Price Indices (PPI) measure the annual change in selling prices received by farmers. Price indices are compiled for commodity groups (such as cereals, meats, fruits and vegetables, and others) as well as for primary crops and livestock products in each country. The PPI is typically used to measure and monitor the market shocks arising due to different domestic and international reasons, including changes in policies, trade agreements or other occurrences.
Consumer Price Indices measure the price change between the current and reference periods of an average basket of goods and services purchased by households. Inflation, measured by Food Consumer price index (CPI), is defined as the change in the prices of a basket of goods and services that are typically purchased by specific groups of households. CPIs for all items and its sub-components originates from the International Monetary Fund (IMF) and supplemented by the UN Statistics Division (UNSD) for countries not covered by the IMF. The general CPI is typically used to measure and monitor inflation, set monetary policy targets, index social benefits such as pensions and unemployment benefits, and to escalate thresholds and credits in the income tax systems and wages in public and private wage contracts.
