Agriculture, Italy leading in EU in value added: 42.4 billion euros, at +9% over 2023

Third in terms of total value of agricultural production, at 74.5 billion euros (+1.4% over 2023, behind France, with 88.3 billion euros, at -7.7%, and Germany, with 75.4 billion euros, down 0.9%), but first in terms of added value, with 42.4 billion euros, a +9% jump over 2023, ahead of Spain, with 39.5 billion euros (+16.2%) and France, with 35.1 billion euros (-7.2%). This is the 2024 macroeconomic snapshot of the Italian agricultural sector, taken from the “Preliminary Estimate of the Economic Accounts for Agriculture” published by Istat. Thus, with Italy alone producing more than 18% of the added value of EU agriculture (233.6 billion, at +4.4% over 2023), compared to 14% of the value of agricultural production of the 27 member countries (529 billion euros, at -1.5 over 2023).
In more detail, Istat explains, “Estimates for 2024 showed a 1.4% increase in the volume of goods produced by the agricultural sector and a 0.8% growth in related selling prices. Thus, the value at current prices of the sector’s total output increased by 2.2% to 74.6 billion euros (it was 73 billion euros in 2023). The downsizing of intermediate costs (-1 % in volume), coupled with a significant contraction in the prices of goods and services used (-4.5%), strengthened the positive trend in the sector's value added at basic prices, which increased by 3.5% in volume and 9% in value, rising to 42.4 billion euros in 2024 from 38.9 billion euros in the previous year. Labor units employed in agriculture decreased by 2.6% due to a marked decline (-4.4%) in self-employed workers not offset by the slight increase in employed workers (+0.9%). With the increase in production subsidies received by the sector (+2.5%) and the substantial stability of depreciation (-0.1%), factor income in value showed an increase of 11.3% in 2024 and, consequently, the agricultural income indicator showed a significant increase (+12.5%).
Looking at individual crops, the Statistical Office continues, “estimates for 2024 outline a positive year for crops as a whole (+1.5% by volume). The volumes produced of potatoes (+13%), fruit (+5.4%; in particular, +11.5% fresh fruit), fresh vegetables (+3.8%) and wine (+3.5%) were on the rise; the quantities produced of cereals (-7.1%) and olive oil (-5%) were in sharp decline, and the drop in fodder (-2.5%) was more modest. Prices of crop products showed an average increase of 2.9%. Consistent rises were recorded for potatoes, olive oil and wine, while significantly declining were the prices of cereals and fodder”.
Performing less well, in general, was the livestock sector, “which in 2024 recorded a slight increase in overall volumes produced (+0.6% over the previous year). In particular, positive results involved beef (+1.5% in volume) and, among derived livestock products, milk (+1.1%) and eggs (+0.5%). With prices falling (-2.2%), production in value of the sector fell by 1.6%”.
Among other things, the data show “an increase in volume production for non-agricultural secondary activities of 5.2% (+2.6% in value, in the presence of a 2.5% reduction in prices). The sector was mainly driven by agritourism activities and renewable energy production. On the other hand, a negative trend is observed for agricultural service activities, whose production in volume decreased by 1.5%, while that in value increased by 1%, as a result of a 2.5% increase in the prices of services produced”.
Looking at intermediate consumption, there emerges “a decrease in the quantity of goods and services used in the agricultural sector (-1.0%) and, due to a 4.5% drop in the prices of goods and services purchased, a significant reduction in the expenditure incurred on intermediate consumption (-5.5%), which fell to 32.2 billion euros, from 34 the previous year. The largest savings were recorded in expenditures incurred on feed and energy products. The combined trend in the prices of products sold (output) and products purchased (input) led to an improvement in terms of trade for the agricultural sector, defined by the ratio of the price index of output (+0.8%) to that of input (-4.5%)”.
“I welcome with great satisfaction the data released today by Istat on the growth of Italian agriculture in 2024. Italy stands as the Nation among the 27 EU countries with the highest agricultural added value. This is a historic record that makes us particularly proud and is the result of the work, dedication and determination of businesses and workers in the sector. And we are equally proud that we have always done our part to achieve this goal. Since taking office, the government has put agriculture back at the center, dedicated record allocations and adopted systemic policies to promote and revive the Italian agrifood sector and our excellence. The road taken is the right one, and we will continue to work in this direction”, Prime Minister Giorgia Meloni commented in an official note from Palazzo Chigi.
“I express great satisfaction with the Istat data”, said the Minister of Agriculture, Francesco Lollobrigida, for his part, “which demonstrate the validity of the policies implemented by the government. Support for agricultural enterprises has favored increased production, increased contributions, reduced costs and revitalized a sector that is fundamental to our economy. What makes me particularly proud is the growth in the average income of farmers, which has increased by 12.5%. These figures testify unequivocally, that we have taken the right path, putting this economic sector at the center, from day one of our mandate, which is essential for the future of the Nation. Heartfelt thanks go to the farmers’ representative associations, whose contribution has been decisive in strengthening the Italian agricultural system. This success demonstrates that Sistema Italia, based on collaboration between institutions and operators in the sector, is a strategic resource to guide the Nation toward a future of growth and competitiveness in Europe”.