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UK Total Income from Farming


01 May 2013

UK Total Income from Farming 2012 - 1st EstimateUK Total Income from Farming 2012 - 1st Estimate

Total Income from Farming is estimated to have fallen between 2011 and 2012 by 14 per cent.
Total Income from Farming in the UK

Key Points

  • Total Income from Farming is estimated to have fallen between 2011 and 2012 by 14 per cent (£737 million) in real terms after adjustment for the effect of inflation, to £4,704 million.
  • Total Income from Farming per annual work unit (AWU) of entrepreneurial labour (farmers and other unpaid labour) is also estimated to have fallen by 14 per cent in real terms to £25,175 in 2012.
  • Over the longer term, Total Income from Farming per Annual Work Unit (AWU) of entrepreneurial labour has performed better than Total Income from Farming owing to a decline in the number of farmers and other unpaid workers.
  • The fall in Total Income from Farming was due to an increase in the value of inputs and other costs that was greater than an increase in the value of output, coupled with a fall in the value of direct payments to farmers due primarily to changes in the Pound to Euro exchange rate. Inflation as measured by the Retail Price Index increased by 3.2 per cent in 2012.

Latest Figures and Long Term Trends

Total Income from Farming is estimated to have fallen between 2011 and 2012 by 14 per cent (£737 million) in real terms after adjustment for the effect of inflation, to £4,704 million. Total Income from Farming per annual work unit (AWU) of entrepreneurial labour (farmers and other unpaid labour) is also estimated to have fallen by 14 per cent in real terms to £25,175 in 2012.

Over the longer term, Total Income from Farming per Annual Work Unit (AWU) of entrepreneurial labour has performed better than Total Income from Farming owing to a decline in the number of farmers and other unpaid workers. Looking over the longer period, Total Income from Farming has remained at a level higher than in the late 1990s/early 2000s though below the peak seen in the mid-1990s.

Figure 1 below shows the trends in Total Income from Farming and Total Income from Farming per annual work unit (AWU) of entrepreneurial labour over the last twenty years. Table 1 below gives the values used in Figure 1 and also year-on-year % changes.

Figure 1: Agricultural Industry Income Trends in The UK (in Real Terms)

May 2013

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