Total agricultural production in the EU increased by 2.4% in 2019

Published 2020년 11월 16일

Tridge summary

In 2019, the European Union's total agricultural production rose by 2.4% to 418,000 million euros, driven by an increase in production value and a slight increase in input goods and services, leading to a 4.5% increase in gross value added. France was the EU's largest agricultural producer, followed by Germany, Italy, and Spain. While agricultural production increased in three-quarters of the EU member states, the largest increases were in Latvia and Estonia, and the smallest decreases were in Slovenia and Slovakia. The value of EU agricultural production increased by 1.8%, with notable increases in the value of rye, denim, hops, potato, and olive oil. Animal production also increased by 3.6% due to higher prices for pigs, milk, and sheep and goats. Despite an increase in farm input costs, the impact on the overall evolution of agricultural production was not significant.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The economic accounts of agriculture show that total agricultural production in the European Union stood at 418,000 million euros in basic prices in 2019, 2.4% more than in 2018, according to data released this Monday by Eurostat. The equivalent of 56.6% (or 236.5 billion euros) of the value of agricultural production generated last year was spent on intermediate consumption (input goods and services), while gross value added (that is, the value of production minus the value of intermediate consumption) was the equivalent of 43.4% (or 181.5 billion euros). The combination of the increase in the value of agricultural production and a limited increase in intermediate consumption (+ 0.8%) resulted in a strong increase in gross value added (+ 4.5%) generated by the EU agricultural industry in 2019 compared to 2018. At € 77 billion (or about 18% of the EU total) in 2019, France had the highest total agricultural production among Member States, followed by Germany (€ 58.2 billion, or ...

Source: Financialfood