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220697
Farmers debt up 5 per cent
statistikk
2016-02-05T10:00:00.000Z
Agriculture, forestry, hunting and fishing;Income and consumption
en
binfo, Farmers’ income and debt, agricultural income, income from self-employment, farmersIncome and wealth, Agriculture , Income and consumption, Agriculture, forestry, hunting and fishing
false

Farmers’ income and debt, 2014

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Farmers debt up 5 per cent

Farmers had a total debt of NOK 76.5 billion in 2014; an increase of NOK 2.7 billion from the previous year. On average, debt for farmers amounted to NOK 1.9 million. Thirteen per cent of the farmers had more than NOK 4 million in debt.

Farmers’ income and debtPublished 5 February 2016
2014Change in per cent
2013 - 20142009 - 2014
Personal holders (number)40 557-1.5-8.8
 
Average income for holders (NOK)602 0005.834.2
Wages and salaries255 4005.127.7
Entrepreneurial income from agriculture173 7005.227.4
Other entrepreneurial income71 6003.027.2
Pensions48 1006.983.6
Capital income etc.53 20014.478.5
 
Average debt for holders (NOK)1 886 0005.1..

Source: Statistics Norway

Agricultural holdings vary considerably in size, from hobby-like production to holdings with a turnover of more than NOK 1 million. This is the main reason for the considerable variation in entrepreneurial income from agriculture and debt. In 2014, farmers had a total debt of NOK 76.5 billion. This corresponds to an average of NOK 1.9 million per farmer; an increase of 5 per cent from the previous year. Agricultural holdings are classified by type of farming. The debt ranged from NOK 1.1 million for farmers with specialist sheep to NOK 4.9 million on average for farmers with specialist pigs/poultry or mixed livestock. In total, 19 per cent of the farmers had less than NOK 100 000 in debt, while nearly 13 per cent had more than NOK 4 million in debt. Total interest paid in 2014 amounted to NOK 3.0 billion, with an average of NOK 73 200 per farmer.

Different income development by type of farming

Farmers with cattle rearing and fattening, other field crops and various grazing livestock had a decrease in income from agriculture from 2013 to 2014. All other types of farming saw an increase in agricultural income. Farmers with mixed livestock increased their agricultural income by NOK 46 000. Only 7 per cent of the farmers with cereals and 14 per cent of the sheep-farmers had agriculture as their main source of income. For farmers with the farm type mixed cattle, three out of four had agriculture as their main source of income.

Increasing gross income

In 2014, farmers’ average gross income was NOK 602 000; an increase of NOK 33 000 from the previous year. The gross income was made up of NOK 304 000 from wages and pensions, NOK 245 000 from total entrepreneurial income and NOK 53 000 from capital income. Entrepreneurial income from agriculture for all farmers averaged NOK 174 000, constituting 29 per cent of their gross income in 2014. For all 28 800 farmers with a positive entrepreneurial income from agriculture, this income amounted to an average of NOK 244 000. Farmers with specialist cattle dairying had the lowest gross income, with NOK 520 000. For farmers with mixed cropping, gross income amounted to NOK 776 000.