According to preliminary figures for the year 2018 , the total production value of the agricultural sector was ISK 62.7 billion at basic prices, i.e. including taxes and subsidies on product, and declined by 0.1% from the previous year. This decline is attributed to a 3.3% drop in volume and a 3.3% increase in prices, compared with the year before.
Value of animals and animal products is estimated to be ISK 42.2 billion, including product subsidies and taxes of ISK 11.7 billion. Value of crop products is ISK 16.3 billion, including ISK 651 million in subsidies and taxes. Intermediate consumption of the agricultural industry is estimated to be ISK 40.6 billion in 2018, or 0.6% higher than in the year before. This increase is attributed to a 5.7% drop in volume and a 6.8% increase in prices, compared with the year before.
| Agriculture performance 2016-2018 | ||||
| Current prices, million ISK | 2016 | 2017 | 2018* | % change between 2017 and 2018 |
| Value of crop products | 16,121 | 16,691 | 16,282 | -2.5 |
| i.e. subsidies and taxes on production of crop products | 118 | 604 | 651 | 7.8 |
| Value of animal husbandry products | 42,538 | 42,039 | 42,241 | 0.5 |
| i.e. subsidies and taxes on production of animal husbandry | 10,574 | 11,598 | 11,734 | 1.2 |
| Income from agricultural services | 334 | 293 | 303 | 3.4 |
| Income from inseperable non-agricultural secondary activities | 4,084 | 3,749 | 3,855 | 2.8 |
| Total output value of the agricultural industry | 63,077 | 62,772 | 62,680 | -0.1 |
| Intermediate consumption | 40,674 | 40,342 | 40,604 | 0.6 |
| Gross value added | 22,403 | 22,430 | 22,076 | -1.6 |
| Fixed capital consumption | 5,554 | 6,275 | 6,275 | 0.0 |
| Net value added | 16,849 | 16,154 | 15,801 | -2.2 |
| Other subsidies on production | 186 | 205 | 189 | -7.8 |
| Other taxes on production | 0 | 0 | 0 | .. |
| Factor income | 17,035 | 16,359 | 15,989 | -2.3 |
| Compensation of employees | 6,186 | 6,511 | 6,661 | 2.3 |
| Operating surplus/mixed income | 10,849 | 9,848 | 9,328 | -5.3 |
| Rents and other real estate charges to be paid | 235 | 169 | .. | .. |
| Interest paid | 4,469 | 4,303 | .. | .. |
| Interest received | 184 | 198 | .. | .. |
| *Estimated year |