The Economic Perspective: “New Agriculture and Agribusiness Numbers”

Mary:  I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at new agriculture and agribusiness numbers.  Mike, each year you update the value of the agriculture and agribusiness industry in North Carolina.  First, define what you mean by agriculture and agribusiness.  And second, what are the new numbers?

 

Mike: Summary Answer

  • Agriculture is farming, including aquaculture
  • Agribusiness is processing, delivery, and sales to final users of food, natural fiber, and forestry products
  • So, entire supply chain
  • Total economic value in 2018 was just shy of $97 billion
  • Equals 16.4% of total economy in NC
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.