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The Impact of COVID-19 Crisis on the Romanian Agricultural Sector

In: Economic Recovery After COVID-19

Author

Listed:
  • Istudor Nicolae

    (Bucharest University of Economic Studies)

  • Popescu Gabriel

    (Bucharest University of Economic Studies)

  • Begalli Diego

    (Universita Di Verona)

  • Ignat Raluca

    (Bucharest University of Economic Studies)

  • Petrescu Irina-Elena

    (Bucharest University of Economic Studies)

  • Petre Ionuț-Laurențiu

    (Bucharest University of Economic Studies)

Abstract

If we were to analyze agriculture at European level, agriculture contributed with 1.1% to the GDP of the European Union in 2018. EU agricultural production comes from millions of predominantly small farms. The agricultural sector contributed with 176.9 billion euro to the total EU GDP in 2018. In Romania, there is an upward trend in agricultural factor revenues per unit of annual employment, from 2007 increasing to 2018. In Romania, value of agri-food production increased strongly (+8.0%) in 2018 to a new level of 18.6 billion euro. More than two-thirds of this total value comes from crop products. Following this situation, it can be seen that in Romania, agriculture has a sector of the economy of national interest. Recently, in the last two years, the agricultural sector in Romania has been counteracted by two significant problems, the COVID-19 pandemic, but especially excessive security in the agricultural year 2019–2020. In this paper, we want to identify the current situation of the sector, its level, as well as the effect that at least these two phenomena have had on this field. For this, a quantitative analysis was performed on the number of employees, added from agriculture, level of investment, sectoral profitability, number of farms in the plant sector and in the livestock sector and trade balance. Following this analysis, a qualitative research was carried out in Romanian agriculture in order to identify the impact that some recent phenomena may have on the agricultural sector in Romania.

Suggested Citation

  • Istudor Nicolae & Popescu Gabriel & Begalli Diego & Ignat Raluca & Petrescu Irina-Elena & Petre Ionuț-Laurențiu, 2021. "The Impact of COVID-19 Crisis on the Romanian Agricultural Sector," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Ion Anghel & Razvan Catalin Dobrea (ed.), Economic Recovery After COVID-19, pages 17-35, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-86641-9_2
    DOI: 10.1007/978-3-030-86641-9_2
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