The latest estimates for the 2023 macroeconomic accounts for agriculture confirm a weak growth in the agricultural industry’s production value over the past year: +0.6% compared with 2022.

The value of cereal production decreased by 25.9% as a result of the fall in cereal prices and lower yields. By contrast, the values of the potato and industrial crops sectors gained 31.9% and 18.3% respectively. For the tubers, this increase results from a better harvest and a higher remuneration for growers.

Overall, the production value of plant products rises by 4.6%, while that of livestock falls by 2.3%, with a 12.4% drop in the value of animal products. Overall, the income of the factors of production rises by 31.9% after deducting charges and depreciations and taking into account public transfers (taxes and subsidies not directly linked to production). This increase is the result of the decline in intermediate consumption (-8.4%).

It should be remembered that the price of agricultural inputs was hard hit by inflation in 2022 (+16.2% for intermediate consumption between 2021 and 2022).

Source: STATBEL
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