EU agricultural output reaches nearly $490B in 2017

By Gokhan Ergocun

ISTANBUL

European Union's agricultural output rose 6.2 percent to €432.6 billion ($488.9 billion) in 2017, compared with the previous year, Eurostat announced on Friday.

Last year, 56 percent -- €244.1 billion ($275.8 billion) -- of the total output was generated through intermediate consumption, Eurostat said.

"Gross value added was the equivalent of 44 percent or €188.5 billion ($213 billion)," it added.

Among member states, most agricultural output -- 17 percent -- was generated by France -- €72.6 billion ($82 billion) in the year.

Germany, Italy, Spain, and the U.K. followed France at €56.2 billion ($63.5 billion), €55.1 billion ($62.3 billion), €50.6 billion ($57.2 billion) and €31.8 billion ($35.9 billion), respectively.

The increment in EU agricultural output stemmed mostly by an increase in the value of animal output -- 10.3 percent.

Turkey's agriculture, forestry, and fishery output's value rose by 17.2 percent to over 189 billion liras ($41.2 billion) in 2017, versus 2016, according to the Turkish Statistical Institute (TurkStat).