KSH: Hungary’s crop production down 8.6% in 2015

Analysis

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Hungary’s volume of crop production output saw a year-on-year decrease of 8.6% in 2015, while the output of live animals was up by 6.7% and that of animal products by 3.5%; the total volume of production of animal farming rose by 5.6%, and the value of output of the branch of agriculture remained almost unchanged, Hungary’s Central Statistical Office (KSH) said today in a first reading of data.

According to KSH, the decreasing volume of crops lowered the total output and due to the growing output of animal production and rising prices, the value of output of agriculture at current prices in 2015 remained at the level observed in the previous year. The volume of gross value added decreased as well, along with a growth in labor input, KSH added.

KSH data show that the volume as well as the price index of intermediate consumption rose only slightly based on first estimates, while gross value added decreased by 8.0% based on prices from the previous year and was unchanged at current prices. Labor input in agriculture was up 2.5%, KSH added.

According to data by KSH, factor income was 2.8% and entrepreneurial income 5.9% lower. Real factor income per unit of labor force (indicator “A”) lessened by 6.7%.

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