EU sees over $512B agricultural output in 2018

By Gokhan Ergocun

ISTANBUL (AA) - The European Union's total agricultural output was €434.3 billion (some $512.5 billion) in 2018, the 28-member bloc's statistical office said on Thursday.

The agricultural output rose by 0.6% year on year in 2018, according to a press release issued by Eurostat.

France posted the highest total agricultural output with €77.2 billion ($91 billion), followed by Italy ($67.1 billion), Germany ($62.18 billion), Spain ($61.6 billion) and the U.K. ($35.16 billion).

During the same period, while animal output decreased in value by 2.4%, the value of crop output rose by 2.7%.

"Although the value of agricultural services and other agricultural activities increased in 2018 compared with 2017, their impact on the overall evolution of agricultural output is not significant," it added.

Meanwhile, Eurostat also revealed flash estimates for GDP and unemployment of the union on Thursday.

In the EU28, while GDP rose by 1.3% year on year in the third quarter of 2019, employment improved by 0.9%.

The EA19 also posted increases of 1.2% and 1% in GDP and employment, in the third quarter on an annual basis.

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU28 includes all member countries of the bloc.