Publications
2002 Farm Financial Survey — Highlights
Introduction
- The 2002 Farm Financial Survey was conducted by Statistics Canada and was funded by Agriculture and Agri-food Canada.
- The results are based on a sample of 20,000 farms with gross revenue of over $10,000 from all provinces and farm types.
- The survey was first done in 1981 and has been done biannually since 1988.
- Highlights of the survey are now being released and in December detailed results will be available in a publication on the INTERNET.
Average Farm Assets and Liabilities per Farm, Canada — 1997, 1999 & 2001
- Average farm assets have shown a consistent increase since 1997.
- Average farm assets were $ 1,039,000 in 2001.
- Assets increased 16% from 1999.
- Average farm liabilities in 2001 were up from 1999.
- Average farm liabilities were $195,000 in 2001.
- Liabilities were up 20% from 1999.
- Debt as a percent of assets was 19% - up slightly from 18 % in 1999.
Note: The following table reflects the data from the above graphic chart.
| 1997 | 1999 | 2001 | |
| Assets | 777 | 896 | 1,039 |
| Liabilities | 131 | 163 | 195 |
| Numbers above represent thousands of $ | |||
Average Assets per Farm, by Province — 1997, 1999 & 2001
- Assets increased in all provinces in 2001.
- The Atlantic region showed significant increases in assets in 2001.
- Prince Edward Island had the highest average assets at $ 1,328,000 in 2001.
- Newfoundland and Saskatchewan had the lowest assets at $730,000 and $ 774,000, respectively.
- All provinces had higher average assets between 1997 and 2001.
- Quebec showed the highest increase in assets (54%) between 1997 and 2001.
Note: The following table reflects the data from the above graphic chart.
| Year | NF | PEI | NS | NB | QC | ON | MB | SK | AB | BC |
| 1997 | 576 | 962 | 654 | 747 | 694 | 827 | 717 | 658 | 880 | 1,101 |
| 1999 | 635 | 1,158 | 800 | 962 | 936 | 1,002 | 785 | 666 | 1,007 | 1,139 |
| 2001 | 731 | 1,328 | 915 | 1,090 | 1,071 | 1,173 | 893 | 774 | 1,162 | 1,320 |
| Numbers above represent thousands of $. | ||||||||||
Average Liabilities per Farm, by Province — 1997, 1999 & 2001
- Average debt increased for Canadian farms.
- Average liabilities in Canada was $195,000 in 2001.
- Average liabilities increased 20% from 1999.
- Liabilities varied among provinces in 2001.
- Prince Edward Island had the highest liabilities at $298,000.
- Saskatchewan had the lowest liabilities at $137,000 followed by Newfoundland at $140,000.
Note: The following table reflects the data from the above graphic chart.
| Year | NF | PEI | NS | NB | QC | ON | MB | SK | AB | BC |
|
1997
|
96 | 190 | 110 | 140 | 162 | 134 | 124 | 93 | 137 | 200 |
|
1999
|
145 | 263 | 149 | 197 | 221 | 163 | 159 | 114 | 165 | 222 |
|
2001
|
140 | 298 | 192 | 225 | 258 | 213 | 180 | 137 | 188 | 249 |
| Numbers above represent thousands of $. | ||||||||||
Average Net Worth per Farm, by Province — 1997, 1999 & 2001
- Average net worth has increased for Canadian farms.
- Average net worth was $844,000 in 2001.
- The net worth increased 15% from 1999.
- Net worth varied among provinces in 2001.
- The average farm in British Columbia now has a net worth in excess of $1,000,000 ($1,071,000).
- Newfoundland and Saskatchewan had the lowest net worth at $590,000 and $637,000 respectively.
- All provinces showed increased net worth from 1997-2001.
- Quebec showed a significant increase in net worth; their average net worth increased 53% from 1997 to 2001.
- Saskatchewan showed the lowest increase in net worth of 13% since 1997.
Note: The following table reflects the data from the above graphic chart.
| Year | NF | PEI | NS | NB | QC | ON | MB | SK | AB | BC |
|
1997
|
479 | 771 | 543 | 607 | 531 | 693 | 593 | 565 | 743 | 902 |
|
1999
|
489 | 895 | 652 | 765 | 715 | 839 | 627 | 552 | 842 | 917 |
|
2001
|
590 | 1,030 | 723 | 864 | 813 | 960 | 713 | 637 | 974 | 1,071 |
| Numbers above represent thousands of $. | ||||||||||
Average Net Worth per Farm, by Farm Type — 1997, 1999 & 2001
- Poultry and egg farms had the highest net worth in 2001 at $1,769,000.
- Dairy farms and potato farms also had a high net worth at $1,548,000 and $1,401,000, respectively.
- Fruit and Vegetables farms had the lowest net worth at $678,000 followed by Beef farms at $680,000.
- All farm types showed increases in net worth since 1997.
- Dairy, hog greenhouses and poultry and egg farms reported the largest increases between 1997 and 2001.
Note: The following table reflects the data from the above graphic chart.
| Year | Beef | Fruit & Vegetables | Grain & Oilseeds | All Farms | Hog | Potato | Dairy | Poultry & egg | Greenhouse & Nursery |
| 1997 | 533 | 562 | 629 | 646 | 749 | 1171 | 962 | 1075 | 622 |
| 1999 | 584 | 596 | 668 | 732 | 924 | 1245 | 1285 | 1412 | 685 |
| 2001 | 680 | 678 | 749 | 843 | 1152 | 1401 | 1548 | 1769 | 870 |
| Numbers above represent thousands of $. | |||||||||
Average Net Operating Income per Farm, Canada — 1997, 1999 & 2001
- Net operating income increased by 26% between 1999 and 2001 due to an increase in both program payments (excluding NISA) and net market income.
- Program payments (excluding NISA) almost doubled between 1999 and 2001 and are almost 3 times 1997 levels.
- Net market income at $25,800 is less than the $26,200 for 1997.
Note: The following table reflects the data from the above graphic chart.
| 1997 | 1999 | 2001 | |
| Net Market Income | 26,200 | 24,700 | 25,800 |
| Program Payments | 5,400 | 7,500 | 14,800 |
| Numbers above represent average per farm ($). | |||
Average Net Operating Income per Farm, by Province — 1997, 1999 & 2001
- All provinces are reporting higher average net cash income including Saskatchewan and Manitoba at $28,900 and $36,900 respectively.
- Alberta reported a 37% increase in average net operating income in part due to higher beef and hog prices.
- Manitoba, Saskatchewan and Nova Scotia were the only provinces with net operating income below the national average in 2001.
Note: The following table reflects the data from the above graphic chart.
| Year | Canada | B.C. | Alta. | Sask. | Man. | Ont. | Que. | N.B. | N.S. | P.E.I. | Nfld. |
| 1997 | 31,600 | 27,200 | 27,500 | 27,500 | 34,300 | 35,200 | 34,300 | 29,500 | 29,600 | 27,000 | 31,600 |
| 1999 | 32,200 | 37,200 | 31,000 | 19,400 | 26,200 | 38,900 | 46,100 | 39,400 | 34,500 | 38,500 | 34,600 |
| 2001 | 40,632 | 53,801 | 42,555 | 28,912 | 36,894 | 43,956 | 49,941 | 44,352 | 37,970 | 41,439 | 42,052 |
| Numbers above represent average per farm ($). | |||||||||||
Average Net Operating Income per Farm, by Farm Type — 1997, 1999 & 2001
- Hog farms reported more than a doubling of their net cash income in 2001 at $111,600 compared to $45,400 in 1999.
- Poultry and Greenhouses reported the highest net cash farm income at $123,100 & $120,200 respectively.
- Grain and Oilseed farms reported an increase between 1999 and 2002 (33%). At $32,200 net cash farm income is above the 1997 level of $30,900.
Note: The following table reflects the data from the above graphic chart.
| Year | Beef | Grain & Oilseed |
Fruit & Vegetable |
Hog | Dairy | Potato | Greenhouse & Nursery |
Poultry & Egg |
| 1997 | 14,600 | 30,900 | 28,000 | 60,300 | 51,400 | 72,700 | 70,100 | 86,000 |
| 1999 | 19,000 | 24,200 | 34,400 | 45,400 | 65,800 | 79,800 | 88,300 | 118,200 |
| 2001 | 23,773 | 32,237 | 38,087 | 111,626 | 77,275 | 93,187 | 120,241 | 123,136 |
| Numbers above represent average per farm ($). | ||||||||
Average Net Capital Investment by Province — 1997, 1999 & 2001
- Quebec had the highest net capital investment at $47,300 in 2001.
- PEI and New Brunswick also showed high net investment of $43,700 &
$42,300 respectively.
- This reflects higher investment in potato farms.
- Newfoundland showed the lowest net capital investment in 2001 at $27,000.
Note: The following table reflects the data from the above graphic chart.
| Year | NF | PEI | NS | NB | QC | ON | MB | SK | AB | BC |
| 1997 | 24,925 | 41,609 | 24,737 | 35,937 | 29,721 | 31,907 | 36,633 | 31,953 | 37,075 | 41,748 |
| 1999 | 48,606 | 44,897 | 22,509 | 47,273 | 42,085 | 36,361 | 29,428 | 22,573 | 32,380 | 39,145 |
| 2001 | 27,041 | 43,723 | 31,503 | 42,274 | 47,300 | 34,147 | 35,545 | 33,673 | 35,209 | 32,241 |
| Numbers above represent average per farm ($). | ||||||||||
Average Net Capital Investment by Farm Type — 1997, 1999 & 2001
- The average net capital investment of all farm types was $36,000 in 2001 increasing from $ 32,500 in 1999.
- Investment varied significantly between farm types.
- Hog farms had the highest net capital investment in 2001 at $108,800 which is almost 3 times the Canadian average.
- Poultry and egg farms returned to more modest levels of capital investment at an average of $64,600 per farm. This is down from 1999 but 48% above 1997 levels.
- Beef farms had the lowest net capital investment at $20,000.
- Grain farms at $29,500 were below the nation average of $36,000. However the national averaged was skewed somewhat by the large investment of hog farms.
Note: The following table reflects the data from the above graphic chart.
| Year | Fruit & Vegetables | Beef | Poultry & Egg | Dairy | Greenhouse & Nursery | Grain & Oilseeds | Hog | Potato | All Types |
| 1997 | 28,539 | 19,044 | 43,610 | 49,068 | 57,670 | 35,387 | 75,647 | 82,341 | 33,617 |
| 1999 | 35,433 | 18,526 | 79,535 | 67,481 | 57,800 | 26,067 | 68,738 | 83,697 | 32,468 |
| 2001 | 28,691 | 19,971 | 64,607 | 76,381 | 90,849 | 29,501 | 108,846 | 83,075 | 36,336 |
| Numbers above represent $. | |||||||||
The results of the 2003 Farm Financial Survey have been released by Statistics Canada and are available on their web site at: http://www.statcan.ca:8096/bsolc/english/bsolc?catno=21F0008X.
For further information about the survey, you may contact John Caldwell at (613) 759-1923 or by email at caldwej@agr.gc.ca.