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Total Income from Farming Estimates for Scotland 2014 to 2016

Total Income from Farming Estimates for Scotland 2014 to 2016

Tuesday, January 31, 2017

ISBN: 9781786527707

Total Income from Farming is an estimate of the net income from farming in Scotland, taking into account outputs and support payments, less total costs.

Executive Summary

Total income from farming is estimated to have increased by £96 million in 2016, after two years of decline.

This publication contains near-final estimates of Total Income from Farming (TIFF) for 2015 and an initial estimate of 2016 TIFF. The figures show income fell by 16 per cent in 2015 compared to the previous year, but initial estimates for 2016 suggest an increase of 15 per cent.

Agriculture was worth £653 million to the Scottish economy in 2015, down from £775 million in 2014, with subsidies, milk and barley all seeing big falls.

Although not all the data are yet in, TIFF for 2016 appears to have bounced back to about £749 million, which, once inflation is taken into account, is the fourth highest since 2000. The improvement in 2016 is largely due to the change in the exchange rate, which led to increased support payments and improvements in the price of grain, beef and lamb.