Real income from agriculture - first estimate, Slovenia, 2017

In 2017 the real factor income per employee in agriculture expected to decrease by 15% over 2016

Crop output value is expected to be much lower due to the substantial volume decrease (by a fifth). Animal output value is expected to increase due to the price and volume increase. Production costs are expected to remain at the previous year’s level.

  • 12/6/2017
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Factor income in agriculture decreased for the second consecutive year

Compared to 2016, in 2017 a 17% decrease in the real factor income in agriculture – which equals the net value added less other taxes on production plus other subsidies on production – is expected. Lower factor income is expected to be influenced by lower production value and by the assumption that the subsidies value will stay at the previous year’s level. The factor income per annual work unit is expected to decrease by 15% due to a slight decrease in employment.
 
In 2017 lower volume again but the prices of agricultural products higher

According to the first estimate, the value of the agricultural output in 2017 is expected to amount to EUR 1,159 million, which is a decrease by 7% over the previous year. The volume is expected to decrease by 10% and the prices to increase by 3%. 

Lower crop output value due to the lower values of all crops, especially fruit and cereals

Crop output value is expected to decrease by 18% due to the 20% volume decrease, while the prices are expected to increase by 3% compared with the previous year.

The main reason for the crop output value decrease compared with 2016 is the lower fruit output (due to the spring frost) and cereals production. Substantially lower volumes are expected also in industrial crops, feedingstuffs, vegetables, potato and wine.The value of fruit is expected to decrease by a third due to the volume decrease by a half and despite the price increase. The value of industrial crops is also expected to decrease by a third due to a quarter lower volume and lower prices. The value of cereals is expected to decrease mainly due to the volume decrease, while the prices increased by almost 5%. The value of wine is expected to decrease due to the volume decrease, while the price is expected to increase. The unfavourable weather conditions influenced also the volume of feedingstuffs, which decreased by a quarter. 

The animal output value increase due to the price and volume increase 

According to the estimate, the animal output is expected to increase by 7% due to the 4% price increase and the volume increase. The price and volume movements are different for animals and for animal products.

The value of animal output is expected to increase by 1% due to the volume increase by 2% and the price decrease by 1%. The cattle output value is expected to increase by 3% due to the volume increase by 2% and the price increase by 1%. The pigs output is expected to increase by 5% due to the price increase by 8% despite the volume decrease. The value of poultry is expected to decrease by 2% despite the volume increase due to the 7% price decrease. The output value of sheep and goats is expected to increase due to the volume increase. 

The animal products output is expected to increase by 15%, due to the price increase and partly due to the volume increase. The main influence on the higher value of animal products is expected due to milk, whose output value is expected to increase by a fifth due to the price increase by 18% (after the price decrease of milk by 12% in 2016).

Costs of agricultural production to remain at the previous year’s level 

The value of intermediate consumption is expected to increase by 1%. The main reason is the expected 1% volume increase, while the prices are expected to remain at the previous year’s level. Higher costs are expected for feedingstuffs (due to the increased prices and volume) and energy (due to the increased prices), while for all other kinds of intermediate consumption costs the same or lower values than in the previous year are expected. The highest value decrease is expected by fertilisers due to the expected price decrease.  

Slight employment decrease

Compared with the previous year it is expected that employment will decrease in 2017 by 1%.  


Real income from agriculture – first estimate, calculation based on the changed data of the economic accounts for agriculture for 2016, published in SI-STAT.

With this release we are also publishing corrected data on the economic accounts for agriculture for 2016 on the SI-STAT Data Portal.
Economic accounts for agriculture, current prices
- Item 04230 Plantations; Correction of the plantations data series in basic prices due to the row mistake. Values of the plantations in basic prices are the same as in the producer prices
- Item 05000 Potatoe: Change of the 2016 potato output  value (change of all sums from crop production onwards as well as the change of all balancing items) due to corrected (underestimated) price of one potato consumption item.

Economic accounts for agriculture, constant prices of the preceding year
- Item 05000 Potato: Change of the 2016 potato output value (change of all sums from crop production onwards as well as the change of all balancing items) due to corrected (underestimated) price of one potato consumption item.
- Item 11200: Change of the 2015 pigs output value (change of all sums from animals onwards as well as all balancing items) due to the use of the corrected price index.

The reason for the error is of technical nature. We appologise for any inconvenience.

 

Agricultural output, gross value added and employment, Slovenia
Agricultural output, gross value added and employment, Slovenia
1) estimate
Source: SURS
Annual changes of the main agregates in agriculture, Slovenia, 2017
Annual change
of real values in basic prices 1)
%
Output of agriculture, basic prices-6.8
  Crop output-17.6
  Animal output6.9
Intermediate consumption0.5
Gross value added, basic prices-17.8
Consumption of fixed capital-3.0
Net value added, basic prices-35.0
Other taxes on production0.0
Other subsidies on production0.0
Factor income-16.5
Employment-1.3
Real factor income per annual work unit84.6
1) The deflator is the implicit price index of GDP at market prices. According to Eurostat data is 101.7140367 for the year 2017.
Source: SURS
Detailed data and time series are available on the SI-STAT data portal.
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