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AGRICULTURAL SECTOR AND ITS IMPORTANCE FOR THE SLOVAK ECONOMY: STRUCTURAL ANALYSIS

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Bartóková Ľ., Ďurčová J.
Ekonomický časopis (Journal of Economics)
|
2022
|
vol. 70
|
issue 3
237 – 263
EN
For some time, the focus of the empirical analysis has been oriented towards sectors linked to the so-called New Industrial Revolution (Industry 4.0). Nevertheless, the agriculture will always be one of the important sectors in each national economy. It is also a sector that underwent many extensive structural changes in the last two decades. The aim of our paper is to look in closer details on various indicators for this sector, notably its current position, its economic linkages to other domestic or foreign industries or generated effects on employment or value added. Our analysis is based on the input-output methodology. The results confirm overall weakening of the domestic linkages, especially on the demand side, and strengthening of the import flows. Also from a supply side point of view, the importance of agriculture as a supplier to other sectors is declining. The agricultural sector has also been losing strength in job creation. However, in terms of value added and gross product value indicators, our results confirm the important role of agriculture in the Slovak economy.
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