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Economic accounts for agriculture

Economic accounts for agriculture

 

SUMMARY OF:

Regulation (EC) No 138/2004 on the economic accounts for agriculture in the EU

WHAT IS THE AIM OF THE REGULATION?

It establishes economic accounts for agriculture (EAA). It sets out the methodology for collecting EU countries’ national data and the time limits for sending these to the European Commission.

KEY POINTS

Economic accounts of agriculture (EAA):

  • are satellite accounts* of the European system of national and regional accounts;
  • analyse agricultural production and the income it generates;
  • measure total agricultural output, including
    • sold or traded goods and services
    • changes in stock levels
    • production for final consumption or further processing;
  • are collected by national statistical institutes and agriculture ministries and aggregated by Eurostat, the EU’s statistical office, according to the terms of Regulation (EC) No 2223/96.

The common methodology in the legislation, set out in the detailed annexes, covers:

  • standards (such as uniform use of local kind-of-activity units (local KAUs) as a basic measurement of economic accounts);
  • definitions (notably between agricultural and closely aligned activities);
  • classification and accounting rules (detailed breakdown of economic activity levels and fiscal considerations);
  • clearly defined time limits for sending national data to the Commission (the first deadline was November 2003).

The Commission may change the methodology provided this does not undermine the system’s basic concepts or cause undue extra work for national authorities.

FROM WHEN DOES THE REGULATION APPLY?

It has applied since 25 February 2004.

BACKGROUND

Management and evaluation of the common agricultural policy require comparable, up-to-date, systematic and reliable information. The data show the sector’s economic state of health and changes in farming incomes. They are essential for policy planning.

The European system of accounts has had to adapt, since it was established in 1995, to economic and structural changes in European agriculture. The changes have two aims:

  • to provide harmonisation and consistency between national and European-wide data; and
  • to be feasible to implement.

For more information, see:

KEY TERMS

Satellite accounts: satellite accounts are linked to the centralised (national or regional) accounts, focussing on a certain field or aspect of economic and social life in the context of the centralised accounts; for example, satellite accounts for the environment, or tourism, or unpaid household work.

MAIN DOCUMENT

Regulation (EC) No 138/2004 of the European Parliament and of the Council of 5 December 2003 on the economic accounts for agriculture in the Community (OJ L 33, 5.2.2004, pp. 1-87)

Successive amendments to Regulation (EC) No 138/2004 have been incorporated into the original document. This consolidated version is of documentary value only.

RELATED DOCUMENTS

Council Regulation (EC) No 2223/96 of 25 June 1996 on the European system of national and regional accounts in the Community (OJ L 310, 30.11.1996, pp. 1-469)

See consolidated version.

last update 23.03.2018

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