Please note that this press release was corrected 16 March 2016 at 13:02 

According to the preliminary results for 2015, the total production value of the agricultural sector increased by 2.2% and was ISK 67.7 billion at basic prices. Intermediate consumption is estimated to have increased by 2.5%, to ISK 50.6 billion.

Growth of the production in 2015 appears more in volume change than changes in prices.

The volume of intermediate consumption increase approximately by 2.5% and prices decrease by 0.2%.

The total output of agriculture 2014 was 66.2 billion ISK at basic prices based on updated data, an increase of 4.2% from the previous year (2013). This breaks down into an output volume increase of 6.7% and a price rise of 0.8%. The output value of crops, including intra-unit use of fodder plants was 20.8 billion ISK or 12.8% higher than last year (2013). The value of cereal production increased by 15.4% from the previous year and potatoes by 65.8%.  The value of fodder plants increased by 12.5% and vegetable and horticultural products by 0.8%. The output value of animal husbandry grew by 4.2% in 2014 and is estimated at ISK 42 billion. As before, the most important products are milk and mutton, with increases in production values of 9.1% and 0.2% respectively. Other products like pigs decreased the production value of 4.5% and poultry by 1.2%.

Intermediate consumption increased by 6.4%, to ISK 49.5 billion. The price index of intermediate consumption increased by 6.4% but volume decreased by 10.1%. The most important item in the intermediate consumption in Icelandic agriculture is forage use, weighing up to about half. As is the case for the production results, this includes the estimated value of home-grown fodder.

Agricultural development 2013-2015        
        Percent 
        changes
        beteween 
In current price, million ISK 2013 2014 2015 1 2013/2014
         
Value of crop products 18,390 20,753 20,814 0.3
 i.e. subsidies and taxes on production of crop products 390 269 290 7.6
Value of animal husbandry products 40,285 41,960 43,340 3.3
 i.e. subsidies and taxes on production of animal husbandry 9,471 10,098 10,411 3.1
Income from agricultural services 379 287 292 1.8
Income from inseparable non-agricultural secondary activities 2,515 3,190 3,221 1.0
Total output value 61,568 66,189 67,667 2.2
Intermediate consumption 46,524 49,507 50,674 2.4
Gross value added 15,044 16,682 16,994 1.9
Fixed capital consumption 4,536 5,251 4,526 -13.8
Net value added 10,507 11,431 12,468 9.1
Other subsidies on production 156 181 185 2.4
Other taxes on production ... ... ... ...
Factor income 10,663 11,612 12,653 9.0
Compensation of employees 4765 5,022 5,621 11.9
Operating surplus/mixed income 5,898 6,590 7,032 6.7
Rents and other real estate charges to be paid 143 159 ... ...
Interest paid 4,073 3,502 ... ...
Interest received 98 98 ... ...
1 Estimated year        

Statistics