cultivar_22_Final_EN

90 ANALYSIS AND PROSPECTIVE STUDIES CULTIVAR Issue 22 APRIL 2021 • 2020 was a particularly bad year for the econ- omy as a whole (GDPmp was down 7.6% in volume and 5.3% in value) due to the COVID- 19 pandemic. GVA for the agroforestry sector declined (-7.4% in volume and -6.6% in value), with both agrifood and forestry down. Anal- ysis of GVA variation must take into account the fact that these are estimates, so caution should be urged, taking into account the adopted methodology (see methodological note at the end). • As far as international agroforestry trade in 2010–2020 is concerned, exports grew more rapidly than imports (3.6% per year as opposed to 2% per year) with a positive effect on the trade deficit, growing at a faster rate than the economy as a whole. • In 2020, at the height of the pandemic, inter- national agroforestry trade fell, though less significantly than the economy as a whole, with growth in agricultural and agro-industrial exports. • Specifically, GVA growth in volume in the agri- cultural sector was interrupted in 2020 (-10.4%) due above all to unfavourable weather con- ditions in the fruit sector, as well as the occur- rence of frost and hail, attacks of mildew and heatwaves in the wine sector. • Farm labour productivity rose above all due to a pronounced dip in work volume (-3.3% per year). • Specifically in 2020, the indicator fell 5.1% due to a large drop in GVAmp in volume (-10.4%) mitigated by a decline in the volume of farm work (-5.6%). • Farm income, which relates GVAfc, deflated by GDP, to the volume of work, has grown since 2010 (3% per year). This has been positively impacted by the growth in GVAmp (0.8% per year) in value, higher subsidies less taxes (1% per year) and lower Annual Work Units (AWUs) (-3.3% per year). • In particular, 2020 saw a decline in farm income (-3.2%) which was due to a combination of a large downturn in agricultural product (GVAmp in value: -10,1%), though mitigated by higher subsidies less taxes (7.8%), a pronounced decline in work volume (-5.6%) and higher GDP implicit prices (2.5%). • Between 2010 and 2019, agricultural invest- ment grew in volume contrary to the economy as a whole (1.7% compared to -0.4% per year), which has not yet recovered to its pre-pandemic trajectory. 3. Statistical analysis A) Evolution of the Agroforestry Complex The agroforestry complex, which includes an agrifood component (agriculture and food, bev- erages and tobacco manufacturers) and a forestry Table 1 – Importance of the Agroforestry Complex in GDP, Employment, Exports and Imports of the Economy in 2020* (%) GVA Employment* Exports Imports million EUR % thousand people % million EUR % million EUR % Agriculture 2 720 1,5 390,2 7,9 1 411,3 1,9 3 138 4,0 Food, Beverages and Tobacco 4 169 2,4 115,4 2,3 5 508,3 7,4 6 916 8,8 Forestry 838 0,5 15,3 0,3 63,9 0,1 277 0,4 Forest Industries 2 335 1,3 60,0 1,2 3 847,8 5,2 1 899 2,4 Agrifood Complex 6 889 3,9 506 10,3 6 920 9,3 10 053 12,8 Forestry Complex 3 172 1,8 75 1,5 3 912 5,3 2 176 2,8 Agroforestry Complex 10 062 5,7 581 11,8 10 831 14,6 12 230 15,6 * Employment figures are for 2018. Source : GPP, from the NA, INE (Base 2016) Data last updated: 26 February 2021