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Farm sector output up 6.5 percent y/y in 2023

Output of Hungary's farm sector rose by 6.5 percent to 4,334 billion forints (EUR 11.4bn) in 2023 as volume climbed and prices fell, a first estimate released by the Central Statistical Office (KSH) on Thursday shows.

The sector’s volume climbed by 25 percent, while prices fell by 15 percent.

The volume of crop production increased by 44 percent, while the volume of live animals and animal products edged down 0.5 percent.

Gross value added was up 19 percent and labour input in agriculture was down 4.1 percent.

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