An Approach to the Determinants of the Agricultural Output Dynamics in the USA - The Agricultural Economics of the 21st Century - page 9

United States Motor
vehicles (per 1,000
people)

830

820

810

800

790

780

Fig. 2.13 Motor vehicles (per 1,000 people) in the USA

United States Exports of goods and services (% of GDP)

16

14

12

10

8

6

4

2

0

Fig. 2.14 Exports of goods and services (% of GDP) in the USA

The investment in percentage of the GDP has been more or less situated in the
interval of around 20-25 % since the 1960s until 2012 (Fig. 2.15 ). The financial
crisis of 2008 also had an influence on the performance for investment in percent-
age of the GDP.
The weight of the value added from agriculture to the GDP diminished from
about 3.5 % in the 1970s to around 1 % in 2011 (Fig. 2.16 ). This loss of weight in
the contribution of agriculture to the GDP was common in many developed
countries, because of improvements in the dynamics of other sectors.
The evolution of industry's contribution to the GDP follows, more or less, the
pattern for agriculture and decreased its percentage from about 35 to 20 %
(Fig. 2.17 ).
On the other hand, the weight of services rose considerably from more or less
60 to 80 % (Fig. 2.18 ), in the period considered (1970-2011). This is a phenomenon
which has also been verified in several developed countries.
The evolution of the GDP growth rates, from 1961 to 2012, was extremely
volatile, but in 2010, 2011, and 2012 was situated in values around the 2 % mark,
which is a good sign of recuperation from the financial crisis verified in 2008
(Fig. 2.19 ).