Credit to agriculture
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Affordable credit is critical in agriculture due to the natural gap between expenditure and revenue. Farmers usually invest in inputs like seeds, fertilizers, plant protection materials or animal feed during the planting or livestock-raising phase but only generate income after selling their production. Without timely access to affordable credit, farmers may struggle to sustain or expand their operations.FAOSTAT provides total credit data series from 1991 to 2023 for over 212 countries and credit to agriculture data series for over 130 countries. According to the latest data, credit to agriculture increased by 28 percent in real terms, rising from USD 952 billion in 2014 to USD 1 215 billion in 2023, while total loans across all industries grew by 46 percent, from USD 36.3 trillion to USD 52.8 trillion.