Fall In Agricultural Productivity For Second Year In A Row

Total factor productivity (TFP) in agriculture is estimated to have fallen marginally by 0.1% between 2012 and 2013. There was an increase of 0.5% in the volume of outputs compared with 2012 but a larger increase of 0.7% in inputs. It is second year in a row that TFP has fallen.

Final output by volume at market prices increased by 0.5%. The increase was offset by a 0.7% increase in the volume of all outputs and entrepreneurial labour used in the process.

Long term trends show that total factor productivity increased by 20% between 1988 and 2013 largely due to the volume of outputs remaining the same while the volume of inputs and entrepreneurial labour fell by 18%. TFP was basically unchanged during the mid-80s to mid-90s, it grew by 18% between 1997 and 2005 and has remained unchanged since then with year to year variations.

Total factor productivity is a key measure of the economic performance of the agricultural industry as it measures the efficiency of the industry at turning inputs into outputs.

Telefonica Revenues Up 0.7%

Telefonica's revenues amounted to 57,061 million euros in 2013 an increase of 0.7% on the previous year. The main growth drivers were the 51% of revenues generated by Telefonica Latinoamerica up 9.6% on the year and mobile data revenues up 9.3% which more than offset the pressure in Europe caused by regulation and the highly competitive market. The fourth quarter revenues were positive for the third consecutive quarter. Net profits in 2013 amounted to 4,593m euros and the basic earnings per share (EPS) totalled 1.01 euros.

The executive chairman commented that Telefonica had advanced significantly in its transformation process achieving the targets set for the year and their intention to accelerate the transformation in 2014. The transformation strategy was started last year and Telefonica has since strengthened its commitment to a sustainable long-term growth model. It is competing in high value segments and markets. It is also focusing on improved efficiency, growth areas, portfolio management and enhancing financial flexibility.

Information Exchange In Natural Resources

The first expert meeting on the sharing of information on natural resources, the Natural Resources Information Exchange (NRIE), took place in Benin in July this year (2010) and attracted representatives from 24 African countries. The African continent is rich in mineral resources. Information sharing can help African governments manage their natural resources efficiently and can help in poverty reduction.