1945

Introduction

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Agriculture plays an important role in low-and middleincome economies. According to the World Bank,1 it accounts for around 70 per cent of employment and more than 16 per cent of GDP of least developed countries (LDCs). In middle-income countries, its contribution to employment is 27 per cent, while for high-income countries it is only 4 per cent. Seventy-four per cent of the population of LDCs and 54 per cent of middle-income countries live in rural areas. Furthermore, around 95 per cent of all farmers and two-thirds of the world's poor live in rural areas in developing countries. However, agriculture's contribution to the GDP and employment declines with the level of development.

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