Net farm income, by province

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Correction notice

Correction date: December 12, 2022

On December 6, 2022, estimates for “Commercial feed” were corrected at the Canada and provincial levels for reference year 2021. “Total operating expenses” and “Total expenses” (before and after rebates) were also corrected at the Canada-level for the same period.

Estimates for “Operating expenses after rebates,” “Net cash income,” “Realized net income,” and “Net income, total” were corrected at the Canada-level for reference year 2021.

Data

The data used to create this interactive web application is from the following listed data tables:

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Additional information

Notes

Figures may not add to totals because of rounding.

Increases in total gross operating expenses and depreciation charges appear as a decrease in the waterfall chart because higher expenses or depreciation charges will reduce net farm income since they are subtracted from receipts in the computation of net farm income. Conversely, a decrease in total gross operating expenses or depreciation would be expressed as an increase in the waterfall chart.

The national GDP deflator at market prices available in March is used as a price deflator for Canada and the provincial GDP deflator at market prices available in November is used as a price deflator for the provinces. Source(s): table 36-10-0130-01 and table 36-10-0223-01

The longstanding trend towards incorporation allows managerial and supervisory services of the operators to be recorded as wages instead of part of the operating surplus of unincorporated farms. Over time this will have a downward effect on the measures of net cash income and realized net income.

Definitions

Net cash income of farm businesses is derived by subtracting operating expenses from farm cash receipts. It represents the amount of cash generated by the farm business that is available for debt repayment, investment or withdrawal by the operators.

Realized net income of farm businesses is derived by subtracting depreciation and adding income-in-kind to net cash income. It represents the financial flows, both cash and non-cash, attributable to the farm businesses, similar to an income statement. It represents the net income from transactions in a given year in that it includes the sale of commodities regardless of the year they were produced.

Total net income measures the financial flows and stock changes of farm businesses (net cash income minus depreciation plus income-in-kind and value of inventory change). It represents the return to owner's equity, unpaid labour, management and risk. Total net income values agriculture economic production during the year that the agricultural goods were produced.

Components of these net farm income measures

+ Total cash receipts
- Operating expenses after rebates
= Net cash income
+ Income in kind
- Depreciation charges
= Realized net income
+ Value of inventory change
= Total net income

How to use

How to use this application

There are three main sections in this interactive tool for exploring the data: the upper left panel, which contains the map; the upper right section contains bar charts that shows the largest year to year changes in the farm cash receipts and expenses components; the bottom section has waterfall charts which shows the movement of all components in total net farm income for the last two years.

Interactive map

Placing the cursor over a province on the map of Canada will show the most recent estimates of net cash income, net realized income and total net income for that province.

Clicking on a province on the interactive map of Canada will display the data of that province in the charts. The top five year-over-year dollar changes for receipts and expenses are shown on the right side of the map and the annual change in farm income components in the waterfall charts below the map. If no province is selected, the default view shows the data for all provinces.

Bar Charts

Placing the cursor over one of the top five year-over-year dollar changes in the farm cash receipt or gross farm operating expense charts will generate a pop-up that contains the name of the commodity or expense item, the most recent estimate and year-over-year percentage change for that component of receipts or expenses.

Waterfall charts

The top waterfall chart displays the data for the most recent year for which annual data are available and the bottom waterfall chart displays the data for the previous year. The waterfall charts display the cumulative effect of the annual change in the following farm income components: crop receipts, value of crop inventory, livestock receipts, value of livestock inventory, gross operating expenses, total payments and rebates, depreciation charges, and income-in-kind. These intermediate values can have either a positive or a negative effect on total net farm income.

Constant dollar line chart

The line chart displays net cash income, realized net income and total net income in constant dollars over a 20-year period. The line chart displays the default 5-year moving average. In addition, users can select either a 10-year moving average or no moving average.

General notes

Users can access the data from the waterfall charts and the charts on the top five movers of receipts and expenses by right-clicking the element and selecting “Show data.”

More information

Note of appreciation

Canada owes the success of its statistical system to a long-standing partnership between Statistics Canada, the citizens of Canada, its businesses, governments and other institutions. Accurate and timely statistical information could not be produced without their continued co-operation and goodwill.

Standards of service to the public

Statistics Canada is committed to serving its clients in a prompt, reliable and courteous manner. To this end, the Agency has developed standards of service which its employees observe in serving its clients.

Copyright

Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada as represented by the Minister of Industry,

All rights reserved. Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 71-607-X

Ottawa

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