Total Income from Farming is estimated to have fallen in 2018
(figures adjusted for inflation)
Total Income from Farming 2018 - £672 million
Total Income from Farming was estimated to have fallen in 2018. The estimate of £672 million was an eight per cent decrease on the revised 2017 figure. The UK Government has projected that in the UK as a whole TIFF may have fallen about 15 per cent.
Over the longer term, the profitability of the sector had generally been increasing, but since the fall in 2015 growth had been slow.
If the figures are calculated without subsidies, agriculture has been in profit since 2010, though with little change in recent years.
If we exclude subsidies, and costs such as labour, rent, taxes and interest, this gives the Gross Value Added from agriculture, which was estimated as £1.2 billion in 2018. This equates to about one per cent of Scotland’s GDP.
Email: Mal Cooke