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Estimates of farm sector income with component accounts:
for the United States, 1910-2008; and for States, 1949-2007.
Data are released three times a year. The next release
will include an update of the 2008 forecast. It is scheduled
for November 25, 2008.
Overview
Estimates are presented of the farm sector's income generated by
employment of the sector's resource base in production activities
and its contribution as a key component sector of the national economy
for 1910 to the present. The national farm income account is disaggregated
into component accounts to provide insight into the financial performance
of the diverse production activities, participants, and geographic
regions of the country. Economic trends can be determined and analyzed
using data related to production and marketing of commodities, expenditures
for types of inputs, income for States, income by size of farm,
and the role of government in supporting the sector. A complete
set of estimates is provided for each State.
Data Files
Major data categories are
value-added (farm income), cash receipts, rankings for commodities
and States, production expenses, cash income, government payments,
and income statements by size of farm. The historical estimates are conceptually the same as the farm income
forecast and thus provide a lengthy time series for analysis of
the sector's current financial health, trends, and outlook.
See all data files...
Features
2008 Net
Farm Income Is Forecast To Be $92.3 Billion—In
2008, net farm income is forecast to be $92.3 billion,
up $3.6 billion from 2007 and over $30 billion above
its average for the previous 10 years.
Release Schedule
Updates are made in mid February, late August, and late November.
Glossary
Check the glossary
for explanations of the economic concepts used throughout farm income
and costs data.
Questions and Answers
Q. Why are the ERS income estimates referred to as farm
sector accounts?
A. The farm income accounts measure the earnings from all
production activities in the farm sector as defined by the Bureau
of Economic Analysis (BEA) for national income accounting.
Q. Are the ERS income estimates comparable to income
reported by farmers to the Internal Revenue Service?
A. No. The conceptual framework underlying the ERS value-added
accounts through which farm income is estimated is consistent with
the BEA's national income accounting. Also, data are not available
to duplicate taxable income accounting because of confidentiality
requirements associated with tax filings.
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