By Thursday, January 31, 2013, First Release
In comparison with 2011, in 2012 the real factor income per annual work unit is expected to decrease in agriculture by 12%. The main reason for the decrease is lower crop output value due to the bad weather conditions.
Factor income in agriculture lower than in 2011
In 2012 a 12% 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 influenced also by a 2% decrease in subsidies.
In 2012 substantially lower volume and higher prices of agricultural products
In comparison with 2011, the value of the agricultural output in 2012 is estimated to decrease by 3%. The volume is expected to decrease by 10%, while the prices are expected to increase by 8%. The value of crop output is expected to decrease by 8% as a result of the estimated 18% decrease in crop volume and 12% increase in crop product prices. The volume decrease by about 20% to 30% is expected in all crop items with the exception of cereals (without grain maize). The main price increase is expected in the fields of forage plants (by 18%) and cereals (by 15%), of wine (by 10%) and of fruit (by 14%). According to the estimation, the production value of potato is expected to be influenced the most - by volume and by price decrease. The value of animal output is expected to increase by 4% due to the price increase, while the volume is expected to remain at the previous year level. The volume increase is expected only for poultry, sheep and goats, and milk. The prices are expected to increase for cattle, pigs, equines and eggs.
Volume decrease and price increase in intermediate consumption items
The value of intermediate consumption is expected to increase by 3%. The main reason is the 9% price increase, while the volume of the intermediate consumption items is expected to decrease by 6%. It is expected that the prices of the majority of the intermediate consumption items will increase; the main costs increase is expected for energy.
Employment remains at the previous year level
Employment in agriculture is expected to remain at the previous year level, but the structure of employment is expected to change. The share of the paid employment is expected to increase by 2%.
Table 1: Annual changes of the main agregates in agriculture, Slovenia, 2012
Source: SURS Note: The deflator is the implicit price index of GDP at market prices. According to Eurostat calculation is 101.0805 for the year 2012. |
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