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UK Total Income from Farming


28 November 2013

UK Total Income from Farming 2012 - 2nd EstimateUK Total Income from Farming 2012 - 2nd Estimate

This release presents the second estimate of Total Income from Farming and the aggregate balance sheet for the United Kingdom for 2012. Total Income from Farming is the income to those with an entrepreneurial interest in the agricultural industry, typically farmers and partners, while the balance sheet estimates the net worth of the industry. The second estimate incorporates further data that has become available since the first estimate and revisions may also have been made to previous years.
Total Income from Farming in the UK

Key points:

  • Total Income from Farming is estimated to have fallen between 2011 and 2012 by 13 per cent (£721 million) in real terms after adjustment for the effect of inflation, to £4,810 million.

  • Two main contributors to the fall in Total Income from Farming were: the poor weather that affected both the volume and quality of the harvested crops as well as increasing the value of input used; and a fall in the value of direct payments to farmers due to changes in the Pound to Euro exchange rate.

  • Total Income from Farming per annual work unit (AWU) of entrepreneurial labour (farmers and other unpaid labour) is estimated to have fallen by 14 per cent in real terms to £24,570 in 2012.

Long term trends

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.

Total Income from Farming per 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.

Figure 1 and table 1 show the trends in Total Income from Farming and Total Income from Farming per AWU of entrepreneurial labour over the last 20 years.

Figure 1: Agricultural industry income trends in the UK (in real terms)

November 2013

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