ANALYSIS OF THE IMPACT OF AGRICULTURE ON ECONOMIC GROWTH IN BRAZIL
Abstract
Purpose of the study: The study analyzed the impact of agriculture on economic growth in Brazil.
Research methodology: The study was literature-based. The conclusion and recommendations were based on the findings from the previous studies.
Findings: The study discovered that agriculture has a positive impact on economic growth in Brazil. Farming is the central pillar of the economy, primarily for developing nations. It is a key source of job creation, revenue and food. Brazil is the world's biggest coffee, beef, ethanol, and soybean producer. Brazilian agricultural value addition has grown within the last 20 years, with farming yield and livestock increasing. Brazil still has untapped potential in farming production and profession.
Conclusion: The study concluded that agricultural activities are critical in enhancing economic growth. Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed people. Growth in the agriculture sector is two to four times more effective in raising incomes among the poorest than in other sectors. Furthermore, the study concluded that the combined tasks of Brazilian farmers, government support, farming and macroeconomic policies had enhanced the crop advancement and positive modifications to factors underlying manufacturing and marketing prices.
Recommendations: The study recommended that agriculture policies in Brazil be put in place to encourage farmers to increase their production. Subsidized farm inputs such as fertilizers, pesticides and machinery should be supplied. Moreover, smart water management should be promoted. Water is an essential need for planting crops, and by the management of water can enhance the production. Moreover, farmers need to be sensitized on the best crops to be planted that will yield more output. Further, there is the need of promotion of the production of quality products that will compete in the global market.
Keywords: Agriculture, economic growth, Brazil
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