Home » Economic Accounts for Agriculture: 2023
Provisional figures on the total output value of the local agricultural produce sold during 2023 indicate an increase of 2.4 per cent over 2022 to a total of €138.7 million; while the intermediate consumption incurred by the operating agricultural holdings increased by 3.2 per cent to a total of €87.2 million. As a result, the respective gross value added edged up by 1.0 per cent to a total of €51.6 million. Additionally, the consumption of fixed capital inputs that was utilised by the farmers for the generation of the income advanced by 2.0 per cent to a total of €7.1 million, while the total wage bill paid by the same holdings rose by 20.6 per cent to €7.3 million.
Concerning the financial support distributed to the sector during the year under review, the total assistance coming from both EU-funded programmes and Government funds improved by 32.8 per cent to €21.0 million, up from €15.8 million in 2022. Consequently, the net operating surplus of the sector advanced by 8.0 per cent to €58.2 million. Moreover, when considering the negative net property income of €1.0 million paid by the agricultural holdings during 2023, the net entrepreneurial income increased by 8.2 per cent to €57.2 million (Table 1, Charts 1 and 2).
On the earnings side of the accounts, the increase in the value of agricultural output resulted from a higher output value in crop production and from products derived through secondary activities undertaken by the same holdings of 11.9 and 3.2 per cent, respectively. The latter improvements were partially offset by lower output values in both livestock products and animal products of 6.4 and 0.4 per cent, respectively (Table 2, Chart 3).
On the expenditure side, the intermediate consumption incurred by the agricultural holdings registered higher expenses on livestock feeding costs, crop cultivation expenses and various other expenses amounting to 4.0, 2.6 and 3.5 per cent, respectively. These expenses were partly offset by a drop in energy and fuel costs of 1.2 per cent (Table 3, Chart 4).
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Chart 4. Agricultural intermediate consumption by category and relative share of total expense: 2023