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Proportion Of Agriculture In Hungary’s GDP Has Decreased, Report By Stats Office Shows

By Tamás Székely // 2017.12.12.

Gross value added produced by Hungary’s farm sector fell by 4.5% in value terms from a year earlier in 2017 to 1,026 billion forints (EUR 3.25bn), the Central Statistical Office (KSH) said in a first reading of data.

Gross value added in price terms was up by 12.2% and was down 14.9% in volume terms. In volume terms, crop output was down by 8.6%, livestock and animal products combined output fell by 3.2%. Prices in the crop segment rose by 2.1% and were up 8.9% in the livestock and animal products segment. In value terms crop output fell by 6.7% to 1,457 billion forints and livestock and animal products output rose by 5.4% to 884 billion forints.

In value terms, output of the agricultural sector, including services and secondary operations, was down by 2.1% at 2,534 billion forints as volume fell by 6.1% and prices were up 4.3%. Income of production factors fell by 3.9% and entrepreneurial income dropped 11.1%. Real factor income per unit of labour force was down by 4.7%, KSH said.

via and MTI