Romania Recorded 6th Highest Agricultural Growth in EU Last Year

By Romania Journal Last updated Nov 13, 2024

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In 2023, EU agricultural production was valued at €537.1 billion in basic prices, down 1.5% from 2022 (€545.4 billion), according to data from Eurostat, the EU’s statistical office.

The highest growth rates were recorded in Hungary (+26%) and Slovakia (+12%). Romania recorded the sixth highest growth in the EU.

This slight drop from the peak value of output in 2022 ended the upward trend that had started in 2010. This change in nominal value reflected the balance of a fall in the volume of output (-2.3 %) and slight rise in the nominal price for agricultural goods and services (+0.8 %).

Although the volume of agricultural output in the EU in 2023 was a little lower than in 2022, there were 10 EU countries for which volumes were higher. The sharpest rates of increase were in Hungary (+26%) and Slovakia (+12%). In the remaining countries there were decreases, the sharpest being in Greece (-16%), Estonia, Latvia, Spain (each -9%) and Sweden (-8%).

A little more than half (51%) of the value of the EU’s agricultural output in 2023 came from crops (€273.6bn, -6% compared with 2022) and 40% came from animals and animal products (€214.3 bn, +2% compared with 2022). The remaining share came from agricultural services and secondary activities.

EU agricultural input costs not related to investment (intermediate consumption) were 3% lower in 2023 than in 2022.

The changes in the value of agricultural output and intermediate consumption in 2023 resulted in a 0.5% rise in the gross value added generated by agriculture.

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