Forecast accounts for agriculture in 2017 A turnaround in production

In 2017, agricultural production started to recover (+2.4%) in value terms, thanks to the volumes produced, but could not offset the drop experienced in 2016 (-6.6%). That of plant production increased only very slightly: the strong surge in volumes was in large part erased by the drop in prices. In contrast, animal production in value terms increased markedly: volumes continued to fade, but prices, in particular for milk, turned around sharply.

At the same time, farmers’ expenditure decreased for the fourth year in a row. This positive development came alongside an increase in production value. Consequently, it is estimated that the added value of the agricultural sector will solidify considerably. Furthermore, agricultural employment continues to fall. In total, according to estimated accounts for the agricultural sector, the gross added value of factor costs by asset is expected to increase by 7.7% in 2017 in real terms, after an 8.4% drop in 2016.