Profitability of agriculture

Compiler: The Natural Resources Institute Finland

Homepage: http://stat.luke.fi/en/profitability-bookkeeping-agriculture_en

Topic: Agriculture, forestry and fishery

The statistics form part of the Official Statistics of Finland (OSF): No
The statistics form part of the European Statistics System (ESS): No

Description
The website on the profitability of agriculture contains weighted average results based on farm-specific agricultural profitability bookkeeping data and indicators on the economic situation of Finnish agriculture. The site provides results on agricultural and horticultural profitability by support area and production type extending to the most recent accounting year. EU legislation also obliges Finland to submit detailed information to the EU’s Farm Accountancy Data Network (FADN). The EU utilises the data in agricultural policy planning and in monitoring the impacts of agricultural policy. In Finland, farm-specific data is utilised, e.g. in research, advice, teaching and in the planning and impact monitoring of Finland´s agricultural policy.

The Natural Resources Institute Finland has statutory responsibility for profitability bookkeeping/FADN operations as a whole and for the information systems and software required in the operations.

Data contents
The financial information pertaining to the sector is based on the actual profitability bookkeeping data collected annually by advisory organisations from farms and bookkeeping farms. The number of enterprises in the data consists of 850 farms and the total number of variables consist of 4,000 variables per farm and year.

Categories

The weighted average results of the profitability bookkeeping farms describe the financial returns of the largest, approximately 37,000, farms in Finland. In these, economic farm size exceeds EUR 8,000 and together account for more than 90 per cent of agricultural and horticultural production in Finland. Results are provided on this site as averages pertaining to Finland as a whole and as support areas and production types as averages.

Data collection and sources
The advisory organisations collect profitability bookkeeping data from genuine agricultural enterprises and save the data in the information systems of the Natural Resources Institute Finland. The quality of the data is ensured in several stages both by national inspection systems and by those required by the EU.

Update frequency
Information is published once a year.

Preparation or publication schedule
The most recent results will be completed by the end of the year following the accounting year.

Time series
Time series of key financial indicators are given in nominal values. Data is available from this website as from 2010 onwards. The data is mainly panel data, where variation is only approximately 7 per cent annually.

Keywords

Profitability bookkeeping, FADN, Economy Doctor, profitability, agriculture, horticulture