Food Expenditure vs GDP 2017

Montenegro

In 2017, Montenegro ranked #44 globally with a Food Expenditure vs GDP value of 1592 %. This figure is significantly higher than many countries, reflecting a strong dependence on food consumption relative to its economic output. Key drivers include Montenegro's reliance on tourism, which influences local food prices and consumption patterns, alongside a relatively small agricultural sector that struggles to meet domestic demand.

Argentina

In 2017, Argentina ranked #14 globally with a Food Expenditure vs GDP value of 2715.9 %. This figure is significantly higher than the global average, indicating a strong emphasis on food spending relative to its economic output. Contributing factors include Argentina's agricultural wealth, which drives both domestic consumption and export markets, alongside economic challenges that affect overall GDP growth and household spending patterns.

Georgia

In 2017, Georgia ranked #73 globally with a Food Expenditure vs GDP of 876.9 %. This figure is significantly higher than the global average, indicating that a large portion of the country's economic resources is devoted to food spending.

The high percentage reflects Georgia's developing economy, where many households allocate substantial income to food due to lower average wages and a reliance on local agriculture. Additionally, the country's geographic diversity supports a variety of food production, further influencing consumer spending patterns.

Panama

In 2017, Panama ranked #52 globally with a Food Expenditure vs GDP value of 1378.3 %. This figure is significantly higher than the global average, indicating a strong reliance on food expenditure relative to its economic output. Factors contributing to this high percentage include Panama's diverse agricultural sector and the impact of the Canal's economic activities, which influence local food prices and consumption patterns.

Uganda

In 2017, Uganda ranked #103 globally with a Food Expenditure vs GDP value of 202.6 %. This figure is significantly higher than the global average, indicating that Ugandans allocate a substantial portion of their income to food compared to many other nations. Contributing factors include a largely agrarian economy, where many households rely on subsistence farming, and a high prevalence of poverty, which limits disposable income for other expenditures.

Germany

In 2017, Germany ranked #19 globally with a Food Expenditure vs GDP value of 2379.6 %. This figure is significantly higher than the global average, indicating a strong consumer focus on food spending relative to the economy's overall size. Key drivers include Germany's robust agricultural sector and a high standard of living, which influences food quality and variety, as well as a cultural emphasis on food consumption and dining experiences.

Australia

In 2017, Australia ranked #7 globally with a Food Expenditure vs GDP value of 3016 %. This figure is significantly higher than the global average, indicating a strong consumer focus on food spending relative to the economy's overall size. Contributing factors include Australia's high standard of living, diverse agricultural sector, and a robust food culture that prioritizes quality and variety.

Greece

In 2017, Greece ranked #20 globally with a Food Expenditure vs GDP value of 2333.4 %. This figure is significantly higher than the global average, indicating a strong emphasis on food spending relative to its economic output. Contributing factors include Greece's Mediterranean diet, which prioritizes fresh produce and local ingredients, and the impact of economic challenges that have led households to allocate a larger share of their budgets to food. Additionally, tourism plays a crucial role in shaping food consumption patterns, as it drives demand for local cuisine.

Austria

In 2017, Austria ranked #16 globally with a Food Expenditure vs GDP value of 2434.6 %. This figure is notably higher than the global average, reflecting a strong emphasis on food quality and local agriculture. The country's robust economy, characterized by a high standard of living and a significant focus on culinary traditions, drives this high expenditure ratio.

Myanmar

In 2017, Myanmar ranked #96 globally with a Food Expenditure vs GDP value of 437.8 %. This figure is significantly higher than many of its Southeast Asian neighbors, indicating a heavy reliance on food spending relative to its economic output. Contributing factors include widespread poverty, limited access to diverse food sources, and a predominantly rural population engaged in subsistence farming, which drives up food costs in relation to overall GDP.