Total Income from Farming in the United Kingdom 2017

First estimate figures for 2017 compared to 2016, in real terms, show:

• Total Income from Farming rose by £1,683million (41%) to £5,743 million
• Agriculture contributed £10,300 million to the national economy (Gross Value Added), an increase of £1,698 million (20%)

The main drivers of this change are:

• An increase of £2,478 million (10%) in gross output to £26,340 million
  • o a 12% increase in crop output was driven by increases in both prices and production for cereals and industrial crops
  • a 7% increase in livestock for meat was driven by price increases
  • a 24% increase in livestock products was driven by an increase in milk price
• The cost of intermediate consumption rose by 5.1% driven by higher prices, in particular rising animal feed, energy and fertiliser prices.
• A further weakening of the pound led to a 2.4% increase in the value of payments under the Basic Payment Scheme.
• Total Income from Farming per annual work unit (AWU)1 of entrepreneurial labour (farmers and other unpaid labour) rose by 41% in real terms to £29,794

Overall the total value of output of livestock was 13% higher at £14,412 million.

Pig meat rose in value by £230 million to £1,329 million. This rise is entirely due to the 23% rise in price as tightening supplies in the EU contributed to this price increase. Production levels fell by 1.6% although carcase weights were slightly heavier.