TOTAL FARM INCOME UP 3.5% IN 2013-STATSCAN

on August 26 | in Tek Talk | by | with No Comments

From Statistics Canada, the Daily

Average total income of farm operators in Canada increased 3.5% to $93,723 in 2013, according to data from personal income tax returns.

The overall growth reflects increases in both average income from off-farm sources (+4.4%) and average net operating income (+2.8%). Off-farm income accounted for 48.2% of the total income of farm operators, up from 47.8% in 2012.

Farm operators specialized in greenhouse, nursery and floriculture production reported the largest gain in average total income, up 21.6%. These producers ranked third in terms of average total income, behind poultry and egg producers, and potato producers.

By contrast, farm operators primarily engaged in beef cattle farming (-3.9%), fruit and tree nut farming (-2.2%), or dairy cattle and milk production (-1.6%) saw their average total income decrease as a result of lower average net operating income.

Average total income of farm operators increased in every province except Prince Edward Island (-3.5%) and Saskatchewan (-2.3%) in 2013. Farm operators in Manitoba posted the largest increase in average total income (+18.9%), followed by Newfoundland and Labrador (+17.5%), British Columbia (+10.8%) and Nova Scotia (+10.0%).

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