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Economic Performance of Agriculture in the European Union Countries

Author

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  • Rađenović, Žarko
  • Krstić, Bojan
  • Marković, Milan

Abstract

The aim of the research is to classify the European Union (EU) countries based on the progress in the economic performance of agriculture. The originality of the paper stems from the fact that a new set of indicators (in relative form) was used to identify the clusters. The following indicators are used to assess the economic performance of the EU agricultural sector (by cluster analysis) for two periods (2015–2017 and 2018–2020): total labor force input, real income of factors in agriculture per annual work unit, total agricultural output, gross value added of the agricultural industry, and animal output. The study confirmed that EU countries, according to changes in agricultural performance, differ significantly. They were grouped into four relatively homogeneous clusters according to their similarity, with a clear geographical dispersion for both analyzed periods. Identifying development disparities between EU countries can be useful in future redesigns of the Common Agricultural Policy measures in terms of increased support to certain members.

Suggested Citation

  • Rađenović, Žarko & Krstić, Bojan & Marković, Milan, 2022. "Economic Performance of Agriculture in the European Union Countries," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 320080, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    • Handle: RePEc:ags:iafepa:320080
    DOI: 10.22004/ag.econ.320080
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    Cited by:

    1. Andrzej Parzonko & Anna Justyna Parzonko & Piotr Bórawski & Ludwik Wicki, 2023. "Return on Equity in Dairy Farms from Selected EU Countries: Assessment Based on the DuPont Model in Years 2004–2020," Agriculture, MDPI, vol. 13(7), pages 1-16, July.

    More about this item

    Keywords

    Agricultural and Food Policy; Agricultural Finance;

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