News Releases

Economic Accounts for Agriculture: 2023

NR174/2024
Release Date: 25 September 2024

By the end of 2023, the total agricultural output is estimated to have grown by 2.4 per cent over 2022; while the gross value added increased by 1.0 per cent.
Agriculture

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). 

Chart 1. The agricultural sector's output, intermediate consumption and gross value added

in € thousands

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Chart 2. Net entrepreneurial income of the agricultural sector by year

in € thousands

No Data Found

Chart 3. The percentage share of agricultural output by category of produce and year

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Chart 4. Agricultural intermediate consumption by category and relative share of total expense: 2023

Methodological Notes

1.      The data published in this release is based on the methodologies for the Economic Accounts for Agriculture and Forestry (EAA/EAF 97, Rev. 1.1).

2.      Data on the generated output of agriculture is collected from various sources. Both the civil abattoir and the private slaughterhouses provide monthly slaughtering statistics by type of animal. The Malta Food Agency provides data on the volume and wholesale value of fruit and vegetables sold by the farmer, the Rural Affairs Department provides administrative data on the activity of wineries, whereas the Agriculture and Rural Payment Agency provides data on subsidies. Separately, the NSO collects statistical data through an annual census on the quantity and value of tomatoes picked for processing, while it also makes use of other available data sources for the estimation of some other specific variables in this release.

3.      Data on intermediate consumption is based on compilations whose sources are administrative records and input price indices that are collected on a quarterly basis from the retail businesses that cater for the agricultural sector.

4.      The Economic Accounts and the other economic indicators published in this release refer to a complete calendar year.

5.      The data in this release is provisional and subject to revision. Updates are carried out annually in respect of a rolling two-year period.

6.      Revisions have been made to the ‘Subsidies on production’ due to a reclassification of subsidies paid as capital transfers and subsidies on production in line with the benchmark revision of the National Accounts (Note 2.9).

7.      Definitions:

●  Output represents the total value of agricultural produce generated through agricultural activity over an entire calendar year period.

Intermediate consumption represents the value of specifically classified goods and services used as inputs in agricultural production processes, with the exception of some specific items which, by methodology, are classified elsewhere.

Gross value added of the agricultural activity is the value of output less intermediate consumption by all the agricultural holdings before deducting any incurred gross fixed capital consumption (i.e. depreciation of fixed assets).

Net entrepreneurial income measures the net operating surplus of the agricultural holding with the addition of any net property income (i.e. after adding and deducting any transactions such as rents and interest).

8.      More information relating to this news release may be accessed at:

Metadata

Statistical concepts

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10.    References to this news release are to be cited appropriately. For guidance on access and re-use of data please visit our dedicated webpage.

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Economic Accounts for Agriculture: 2023  

NR174/2024
Release Date: 25 September 2024

Agriculture
  • In 2023, the output generated by the local agricultural sector grew by 2.4 per cent when compared to previous year, reaching €138.7 million.
  • The intermediate consumption of the sector, consisting of most expenses incurred along the different production processes, increased up by 3.2 per cent to a total of €87.2 million in 2023.
  • The gross value added of the agricultural sector edged up over the previous year by 1.0 per cent to €51.6 million.

Economic Accounts for Agriculture: 2023

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