Why Agriculture is considered as the backbone of the Philippine economy?

Agriculture is the backbone of the Philippine economy. … It grants tax incentives and deductions to private entities or corporations that give donations or gifts to and directly purchase agricultural and fishery products from accredited farmers’ and fisherfolks’ enterprises and/or cooperatives.

Why agriculture is the backbone of our economy?

Agriculture is the backbone of Economic System of a Given Country. Increasing population means that there has to be an increased focus the primary sector. … This ensures that the country can focus more on developing the economy.

Why does agriculture important to the Philippine economy?

Agriculture dominates Philippine economy. It furnishes employment to about 3 million persons or about 60 per cent of the gainfully employed workers. Agricultural operations provide 40 to 45 per cent of the total national income and about 75 to 80 per cent of the country’s exports.

Why agriculture is the backbone of the country?

It is amazing to realize how agriculture impacts our lives. Food and fiber products play a major role in each part of our lives and without them we would perish. Today, that same farmer supplies food for more than 144 people in the U.S. and abroad. …

Why does agriculture very important in the Philippines?

The sector is important for inclusive growth, with agriculture being the key driver of the economy in the rural areas where most Filipinos live (but where poverty incidence remains high). 2 Agriculture remains a major source of employment, with about 36% of the total employed population working in the sector.

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Is agriculture important for the economy?

Agriculture and its related industries (things like food sales and other industries that wouldn’t exist or would be much smaller without agriculture) contribute $1.05 trillion to U.S. GDP, according to the latest data. That puts agriculture’s contribution to the overall economy at about 6 percent.

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