In 2022

Intermediate consumption grew more than agricultural output, leading to a 9.5% decrease in its Gross Value Added

According to the latest Regional Economic Agricultural Accounts, still provisional, provided by Statistics Portugal (INE), in 2022, agricultural output in the Autonomous Region of Madeira (ARM) amounted to 122.1 million euros, showing a nominal growth of 18.7% compared to the previous year.

Of the total regional agricultural output in 2022, 81.0% came from the crop output and 13.8% from the animal output, with the remaining percentages derived from agricultural services and non-agricultural secondary activities. At the national level, the share of crop output was significantly lower (58.7%), although it also proved more dominant than the animal output (35.3%).

Breaking down the crop output (which totalled 98.9 million euros) for the ARM, it is observed that the most representative components were fresh vegetables (32.4 million euros; +34.0% compared to 2021) and subtropical fruits (19.0 million euros; -0.4% compared to 2021).

The major share of animal production, totalling 16.8 million euros (+26.9% compared to 2021), came from poultry farming (poultry and egg production), which accounted for 64.7% of that total.

Agricultural activity involves the use of a range of goods and services, constituting intermediate consumption. This variable amounted to 74.1 million euros in 2022, reflecting an increase of 48.7% compared to the previous year. Among its components, it is noteworthy that the value of animal feed increased by 61.1% between 2021 and 2022.

The difference between agricultural output and intermediate consumption constitutes the so-called Gross Value Added (GVA) in agriculture. In 2022, due to the fact that the value of intermediate consumption grew more than output, agricultural GVA decreased by 9.5% in nominal terms between 2021 and 2022, settling at 48.0 million euros.

Finally, Gross Fixed Capital Formation, one of the components of investment, amounted to 5.6 million euros, +12.4% compared to 2021.

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