According to Eurostat, in 2023, agricultural production in the European Union was valued at €537.1 billion at basic prices, down 1.5% compared to 2022 (€545.4 billion). This slight decline compared to the peak value of production in 2022 ended the upward trend that began in 2010. This change in nominal value reflects the balance of a decline in production volume (-2.3%) and a slight increase in the nominal price for agricultural goods and services (+0.8%).

Although the volume of agricultural production in the EU in 2023 was slightly lower than in 2022, there were ten EU countries for which the volumes were higher. The highest rates of increase were recorded in Hungary (+26%) and Slovakia (+12%). In the remaining countries, there were decreases, the most marked in Greece (-16%), Estonia, Latvia, Spain (each -9%) and Sweden (-8%).

Just over half (51%) of the value of EU agricultural production in 2023 came from crops (€273.6 billion, -6% compared to 2022) and 40% from animals and animal products (€214.3 billion, +2% compared to 2022). The remainder came from agricultural services and secondary activities.

The EU agricultural input costs not related to investments (intermediate consumption) were 3% lower in 2023 than in 2022. Changes in the value of agricultural production and intermediate consumption in 2023 resulted in an increase of 0.5% in the gross value added generated by agriculture.