Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 10016 Percentage of Gross Domestic Product (GDP) As the portion of the workforce dedicated to ag- riculture and farming has decreased, the percent- age of the economy dedicated to agriculture has also dropped significantly. A more industrialized agricultural sector has supported society in shift- ing resources to an expanding number of activi- ties and investments. Agriculture as a percentage of GDP in the G-7 nations ranges from 1% in the United States to 3% in Australia. Since the adoption of the Uruguay round of GATT and the creation of the World Trade Organization in 1995, there has been an ex- traordinary push to globalize and industrialize food production in the emerging markets. As this happened, percentages of the workforce and GDP in the emerging markets have experienced a downward trend. However, they are still high relative to the G-7 nations, with agriculture representing 17% and 9% of GDP in India and China, respectively. In the G-7 nations, the industrialization of food that contributed to this decline in agriculture (as a % of GDP) has reduced the portion of a family’s budget spent on food. For example, dis- posable income currently spent on food in the United States has declined from approximately 17% in 1960 to approximately 12% in 2014. Price Volatility One reason why food is taken for granted in the developed nations is because it is readily available and its price volatility is low – particularly when compared with other necessities such as energy. For example, in the United States since 1995, gas and home energy prices have experienced signif- icant price volatility while food prices have seen an average annual increase of 2.6%. While there is reason to be skeptical of US government statis- II. The Global Harvest & What It Means to Investors 1/29/17, 5:39 PM Food Production – The Solari Report Page 2 of 3 http://food.solariiceland.com/?page_id=743 Country Food Production $MM Agriculture (% GDP) Food Exports $MM ▾ Food Imports $MM Net Trade: Cereals $MM Net Trade: Fruit & Vegetables $MM Net Trade: Meat $MM Net Trade: Dairy Products $MM Net Trade: Fish $MM Japan 17,730 1% 1,750 45,107 -10,064 -9,682 -13,206 -1,450 -16,174 South Africa 12,753 2% 4,764 4,679 -855 2,404 -533 -77 255 Russia 46,439 4% 11,606 28,907 5,160 -9,689 -7,087 -2,805 411 United Kingdom 15,878 1% 13,824 42,602 -2,032 -11,552 -6,490 -2,053 -1,703 Mexico 35,142 3% 16,230 21,503 -4,463 6,934 -2,427 -1,434 416 New Zealand 10,334 7% 17,306 2,780 62 1,252 4,183 9,117 1,090 India 236,540 17% 20,835 16,523 9,154 -1,551 3,145 56 3,326 Australia 25,035 3% 27,285 8,036 9,024 162 6,751 1,584 -615 Italy 29,303 2% 27,468 31,717 403 3,252 -3,134 -1,447 -4,830 China 518,851 9% 36,567 96,838 -8,335 8,588 -5,731 -4,748 7,824 Canada 27,181 2% 37,701 22,561 7,473 -3,751 1,565 -220 1,541 France 38,188 2% 46,001 37,016 9,659 -5,751 -1,270 4,015 -4,281 Germany 33,635 1% 54,646 63,113 3,535 -13,940 3,092 3,109 -2,549 Brazil 140,046 6% 59,994 8,276 3,439 1,491 14,937 -536 -1,036 United 215,750 1% 111,636 63,704 16,260 -2,493 11,327 2,126 -11,803 1 1 1 1 1 1 1 1 1 Food Production