Developing regions account for growing share of global income
Developing regions account for an increasing share of global gross domestic product (GDP)—a measure of total economic output—a trend that reflects their growing role in driving growth in consumer demand, including demand for agricultural products. Relatively high rates of GDP growth in developing regions, particularly China and other developing Asian countries, have boosted the developing country share of global GDP from 21 percent in 1990 to 27 percent in 2000, and about 38 percent in 2014. This ongoing shift in the world economy is a driver of food demand because developing country consumers tend to spend larger shares of additional income on food. China and Developing Asia together accounted for 34 percent of U.S. agricultural exports in fiscal 2013, while developing countries as a whole accounted for 65 percent. USDA long-term projections for agriculture, which assume continued income growth in developing countries, indicate that developing countries will account for more than 90 percent of the growth in world imports of meats, grains, and oilseeds over the next decade. This chart is based on data found in ERS’s International Macroeconomic Data Set.
Download higher resolution chart (1877 pixels by 1397, 300 dpi)