Press release: 12.449-040/21

Agricultural income 2020 according to preliminary estimates above previous year's level

Vienna, 2021-02-24 – In 2020, agricultural income per worker increased by 5.4% (in real terms; measured as factor income, i.e. as net value added at factor cost), after a decrease of 5.8% in 2019. This can be concluded from the second estimate of the Economic Accounts for Agriculture (EAA) compiled by Statistics Austria. The growth in factor income was driven by an increase in the output value of the agricultural industry.

With €7.7 bn, the value of the agricultural industry’s output was 3.2% above previous year’s level. The value of crop output increased significantly (+7.6%) due to higher output values of several product groups such as cereals, fruits and forage plants. The output value of potatoes, however, recorded a strong decline. The value of overall animal output is estimated to have declined by 0.6%, primarily as a result of significant losses in cattle production and lower pig prices.

Production costs increased, with expected rises of the cost of intermediate consumption goods and services by 1.6% and of fixed capital consumption by 3.2%.

Based on preliminary calculations, the value of overall subsidies (product-specific subsidies and other subsidies on production) accounted for €1.5 bn in 2020 (+0.3%).

As a consequence of these developments, agricultural factor income is expected to have risen by 4.9% to about €2.6 bn. With a further decline in agricultural labour input estimated at -1.8%, agricultural factor income per worker increased by 6.8% in nominal terms and by 5.4% in real terms.

For more detailed information please refer to the German version.