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Agricultural income is expected to decrease 3.3% in 2020. Between January and October 2020, exports of agricultural products increased by 6.2% comparing to the same period of 2019, while total exports of goods decreased by 11.5%
Economic accounts for agriculture
1st Estimate
Agricultural income is expected to decrease 3.3% in 2020. Between January and October 2020, exports of agricultural products increased by 6.2% comparing to the same period of 2019, while total exports of goods decreased by 11.5% - 2020
10 December 2020

Summary

According to the first estimate on Economic Accounts for Agriculture (EAA) for 2020, the Income from agricultural activity, in real terms, per annual working unit (AWU), is expected to decrease (-3.3%), a situation that has not occurred since 2011. For this evolution, the decrease in Gross added value (GVA) (-7.7%) was crucial, partially attenuated by the growth in Other production subsidies (+ 3.6%). Agricultural activity was naturally affected by the effects of the COVID-19 pandemic, with a negative impact on plant production, especially in products that are more perishable or sensitive to transport and storage, while animal production was affected by changes in consumption patterns resulting from the confinement.
Exports of agricultural products, in the period from January to October 2020, registered an increase of 6.2% comparing to the same period of 2019, while total exports of goods decreased 11.5%. In the same period, imports of agricultural products decreased by 2.6%, a less significant decrease than total imports of goods (-16.5%).


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