Livestock production accounts for 40% agriculture output in developed countries and 20% in developing countries.
Livestock production employs at least 1.3 billion people worldwide, while about 600 million of the world’s poorest households keep livestock as a source of income.
Studies have found that when a household in a developing region acquires livestock, they report higher incomes, improved nutrition, better credit access, improved farm equipment and more.
The Australian Government estimates that an outbreak of Foot and Mouth Disease would cost farmers AUD$80 billion in direct costs over 10 years.
The FAO calls livestock ‘the world’s third most important source of income” and ‘an asset for economic resilience’.
Just one livestock disease, Foot and Mouth Disease (FMD), causes up to $21 billion in global economic losses every year.