Economic Accounts for Agriculture: 2024
Provisional figures on the total output value of the local agricultural produce sold during 2024 amounted to €140.7 million, an increase of 1.6 per cent over 2023, while the intermediate consumption incurred by the operating agricultural holdings increased by 0.2 per cent to a total of €87.1 million. As a result, the gross value added advanced by 4.1 per cent over the previous year to a total of €53.6 million. Additionally, the consumption of fixed capital inputs that was utilised by the farmers for the generation of their income, increased by 1.4 per cent to a total of €7.2 million, while the total wages paid by the same holdings rose by 29.7 per cent to €8.6 million.
Regarding the financial support provided to the sector during the year under review, the total assistance coming from EU-funded programmes and Government funds increased by 10.1 per cent from €23.4 million in 2023 to €25.8 million in 2024. Consequently, the net operating surplus of the sector advanced by 3.9 per cent to €63.6 million. Upon accounting for the negative net property income of €1.0 million paid by the agricultural holdings during 2024, the net entrepreneurial income of the sector is estimated to have increased by 4.0 per cent to €62.6 million (Table 1, Charts 1 and 2).
Chart 1. The agricultural sector's output, intermediate consumption and gross value added
in € thousands
Chart 2. Net entrepreneurial income of the agricultural sector by year
in € thousands
The registered increase in the value of agricultural output has resulted from a higher output value in livestock products, from products derived through secondary activities undertaken by the same holdings as well as through the sale of animal products amounting to 6.1, 4.5 and 2.8 per cent, respectively. These improvements were partially offset by lower output value in crop production of 2.6 per cent (Table 2, Chart 3).
Chart 3. The percentage share of agricultural output by category of produce and year
On the expenditure side, the intermediate consumption incurred by the agricultural holdings registered higher expenses of other expenses and energy and fuel costs amounting to 3.2 and 0.8 per cent, respectively. These expenses were partly offset by a drop in the crop cultivation expenses and livestock feeding costs by 5.1 and 0.5 per cent respectively (Table 3, Chart 4).
Chart 4. Agricultural intermediate consumption by category and relative share of total expense: 2024
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. 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).
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Economic Accounts for Agriculture: 2024
- In 2024, the output generated by the local agricultural sector increased by 1.6 per cent over the previous year, reaching €140.7 million.
- The intermediate consumption of the main expenses incurred by the sector along the different production processes rose marginally by 0.2 per cent to €87.1 million in 2024.
- The gross value added of the agricultural sector increased by 4.1 per cent to €53.6 million.
