Press release: 12.744-042/22

Agricultural income increased moderately in 2021 according to preliminary estimates

Vienna, 2022-02-22 – In 2021, agricultural income per worker increased by 3.3% (in real terms; measured as factor income, i.e. as net value added at factor cost), following a rise of 1.5% in 2020, as shown in 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 €8.5 bn, the value of the agricultural industry’s output was 10.3% above the previous year’s level. The output value of crop production significantly increased by 19.0%. High growth rates were recorded especially for sugar beet, oil seeds and oleaginous fruits as well as cereals. The value of overall animal output increased by 4.4%, mainly due to higher output values of cattle and milk whereas the output value of pigs decreased.

Production costs increased markedly, with an expected increase in the cost of intermediate consumption goods and services by 9.9% and of fixed capital consumption by 7.2%.

Based on preliminary calculations, the value of overall subsidies (product-specific subsidies and other subsidies on production) accounted for €1.5 bn in 2021 (-2.2%).

As a consequence of these developments, agricultural factor income is expected to have risen by 3.9% to about €2.6 bn. With a further decline in agricultural labour input estimated at -0.9%, agricultural factor income per worker increased by 4.9% in nominal terms and by 3.3% in real terms.

For more detailed information please refer to the German version.