Agricultural productivity in EU increased by 1.6% in 2024

According to Eurostat estimates, agricultural productivity in the European Union, i.e. the result created by the sector per unit of work, increased by 1.6% in 2024.

Farmer.pl writes about this and adds that Poland is among the countries that did not contribute to this productivity growth. Its indicators have fallen.

In general, the estimates of the Eurostat report are based on a macroeconomic analysis of the European agricultural sector data collected during the year.

They show that the countries where agricultural productivity grew the most in 2024 are Latvia (+46.9%), Luxembourg (+27.1%) and Sweden (+22.5%).

However, there is also a group of countries where productivity declined. The largest drops were in Romania (-16.8%), Hungary (-15.5%), Poland (-12.5%), and France, where productivity fell by 8.9% in 2024.

According to Eurostat, this year the gross value added generated by the agricultural sector increased by 4.4%. This is the mathematical result of a decrease in the value of agricultural production (output X price) estimated at -1.5% and a decrease in costs (intermediate consumption: resources, structural costs, etc.) by 5.7% compared to 2023. The volume of agricultural work also decreased by 0.9%.

Eurostat also notes that between 2024 and 2015 – almost 10 years – agricultural productivity per unit of work increased by 37.2%. Real income compared to production costs increased by 11%, while the availability of labor decreased by 19.1%.

It is noted that agricultural productivity corresponds to the real, inflation-adjusted income from production per unit of labor, i.e., the equivalent of full employment. So far, these are preliminary estimates for 2024, which will be adjusted in 2025.

Tags: EU, agricultural sector