12/06/2018 | Press release | Distributed by Public on 12/06/2018 03:33
Factor income in agriculture increased after two consecutive years of decrease
Compared to 2017, in 2018 a 23% increase in the real factor income in agriculture - which equals the net value added less other taxes on production plus other subsidies on production - is expected. Higher factor income is expected to be influenced by higher production value and by the assumption that the subsidies value will stay almost at the previous year's level. The factor income per annual work unit is expected to increase by 24% due to a slight decrease in employment.
In 2018 higher volume after two years but the prices of agricultural products lower
According to the first estimate, the value of the agricultural output in 2018 is expected to amount to EUR 1,301 million, which is an increase by 10% over the previous year. The volume is expected to increase by 18% and the prices to decrease by 7%.
Higher crop output value due to the higher values of almost all areas of crop production, especially fruit and grapes, the most influenced by weather conditions in the last two years
Crop output value is expected to increase by 21% due to the substantial 35% volume increase, while the prices are expected to decrease by 10% compared with the previous year.
The main reason for the crop output value increase compared with 2017 is the higher fruit, grape and wine production, as well as cereals output. Lower volumes are expected in vegetables and potato.
The value of fruit is expected to double due to the substantial volume increase (not only in comparison with the 2017 bad harvest but in comparison with the 10-year average) and despite the price decrease by more than a third. Due to the substantial increase in grape production, the value of wine is expected to increase by 40%. The value of cereals is expected to increase mainly due to the volume increase. The value of industrial crops and forage plants is also expected to increase due to a volume increase. The lower output value is expected in vegetables and potato production due to the volume decrease.
The animal output value decrease due to the price decrease; volume remains at the previous year level
According to the estimate, the animal output is expected to decrease by 2% due to the price decrease.
The value of animal output is expected to decrease by 1% due to the volume increase by 1% and the price decrease by 2%. The cattle output value is expected to remain at the previous year level as a result of the same volume and price level as in 2017. The pigs output is expected to decrease by 4% due to the price decrease by 6% despite the volume increase. The value of poultry is expected to remain at the 2017 level due to the price decrease by 2%. The output value of sheep and goats is expected to decrease due to the price decrease.
The animal products output is expected to decrease by 4%, mainly due to the price decrease. The output value of milk is expected to decrease mainly due to the price decrease, while the eggs output is expected to decrease mainly due to the volume decrease.
Costs of agricultural production to remain at the previous year's level
The value of intermediate consumption is expected to increase by 1%. The main reason is the expected 1% price increase, while the volume is expected to remain at the previous year's level.
Higher costs are expected for energy and fertilisers, in both cases due to the price increase, while for all other kinds of intermediate consumption costs the same or lower values than in the previous year are expected. The highest value decrease is expected by seeds due to the expected price decrease.
Slight employment decrease
Compared with the previous year it is expected that employment will decrease in 2018 by 1%.
At the time of the publishing of Real income from agriculture - first estimate 2018, the data in the SI-STAT Databse are published again:
Economic accounts for agriculture, constant prices of the preceding year with the changed data for 2003 that have no influence on further sums and results.
The data are corrected for
- Item 19090 Agricultural services: change of the agricultural services costs, 2003,
- Item 19095: Change of the Financial Intermediate Services Indirectly Measured (FISIM) costs, 2003.
The reason for the error is of technical nature. We apologise for any inconvenience.