Definition: Real income of factors in agriculture

Category: Economic accounts for agriculture

The real income of factors in agriculture, per annual work unit, corresponds to the real net value added at factor cost of agriculture, per total annual work unit. Net value added at factor cost is calculated by subtracting from the value of agricultural output at basic prices the value of intermediate consumption, the consumption of fixed capital and production taxes, and adding the value of production subsidies. In order to take account of part-time and seasonal work, agricultural labour or changes therein are measured in annual work units (AWUs). In this News Release one AWU is defined as the work-time equivalent of a full-time worker. http://ec.europa.eu/eurostat/product?code=5-02042009-AP&mode=view