© Anthony Boyd Graphics
22.10.2021
Agriculture and Forestry in the Bioeconomy
Opportunities and Prospects for Rural Regions
As part of the LEADER Annual Meeting 2021, WIFO economist Franz Sinabell spoke on 20 October about opportunities and prospects for rural regions and presented his latest article of the WIFO-Monatsberichte (monthly reports) on Austrian agriculture and forestry in the COVID-19 crisis.
Agriculture and forestry are important elements of the bioeconomy. As a long-term comparison of the development of value added shows, it increased more in the downstream sectors than in the core sector, reducing the weight of the primary sector both in the value chains and in the national economy.
The bioeconomy also includes sectors that are outside the value chains of agricultural and forestry products. Fisheries and parts of pharmaceuticals or recycling can be included in the bioeconomy. As society replaces fossil fuels and materials with sustainable and renewable alternatives, the bioeconomy will become a core element of the transformation towards climate neutrality and sustainability.
Publications
WIFO-Monatsberichte
06.10.2021
Finalization: September 2021
Specialist publication: WIFO-Monatsberichte
JEL-Codes: E32, E66, Q10
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Climate, Environmental and Resource Economics
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