Value of agricultural production

As described in conjunction with the indicator that represents the development of agricultural income, one of the key objectives of the CAP is to improve food security and ensure the financial sustainability of production. In addition, ensuring the preconditions of domestic food production is a specific national focus area. Monitoring the value of domestic agricultural production and its development is significantly linked to this.

According to Statistics Finland, prices for agricultural products and production inputs increased steeply in 2022. The value of agricultural output at basic prices increased by roughly 30% from the previous year, whereas the costs of intermediates increased by 35%, especially due to the costs of energy, fertilisers and feed. The gross value added in agriculture calculated at fair prices increased by 13%. As a result of crisis support for agriculture, entrepreneurial income is expected to increase by approximately 19% from the level of the 2021 crop failure year.  In 2023, as a result of the poor crop and the abolition of the crisis support paid in 2022, entrepreneurial income from agriculture falls by around 23 per cent from the previous year to EUR 1.06 billion. Livestock production performed reasonably well due to rising producer prices. 

According to Statistics Finland's first preliminary estimate, due to the decrease in producer prices, the basic value of cereal production in 2024 remained at the same level as the previous year despite higher yields. The value of meat production remained at the same level as the previous year. The value of intermediate consumption decreased approximately 5 per cent due to the decline in the prices of main production inputs (Source: Statistics Finland: Economic accounts for agriculture (EAA)).

The value of agricultural production is determined as the value of agricultural output at producer and basic prices in accordance with the principles of the EAA of Eurostat and Statistics Finland.  In this context, the value of agricultural production represents the value of agricultural primary production as a whole. The term “agricultural primary production” means the production of the products listed in Annex I of the Treaty on European Union and livestock production. If the value of production, i.e. the amount of agricultural income received from the market, increases more quickly than production costs, agricultural entrepreneurial income increases and the income level improves. In an opposite situation, the agricultural income level and profitability decrease.

The indicator will next be updated in autumn 2025.

Updated 3.1.2025.