Economic Report on Scottish Agriculture 2011 Edition

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Table A15 Major Economic Indicators of Scottish Agriculture, 2001 to 2010

£ millions

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Current Prices

A. Net Value Added

at Factor Cost (1)

687

706

833

842

846

992

1,092

1,012

932

1,041

B. Returns to all Labour (2)

578

606

729

729

720

862

948

883

847

959

C. TIFF(3)

334

366

482

473

446

587

665

581

496

618

Stockchange due to Volume in Outputs

13

0

-10

19

-22

50

-41

-4

6

-43

Stockchange due to Volume in Inputs

0

2

-3

-1

1

-1

-3

6

-1

-1

Capital Formation in Livestock

70

67

90

74

82

57

64

51

71

70

minus Consumption of Capital in Livestock

74

74

81

86

85

67

74

70

70

79

D. Sub Total

10

-5

-4

6

-23

40

-53

-16

6

-53

E. Adjusted TIFF(5) (C-D)

324

371

486

467

470

546

718

597

490

671

Depreciation

227

228

222

218

219

220

221

225

236

233

Capital Grants

200

16

17

13

12

20

23

25

25

28

Change in Borrowings

10

-16

-55

63

-16

3

-157

14

163

209

F. Sub Total

437

228

184

294

214

243

87

264

424

469

G. Capital Investment (6)

141

185

150

185

170

193

184

235

220

270

H. Cash Available (E+F-G)

621

413

520

576

514

596

620

627

694

870

Annual Work Units of Entrepreneurial Labour (4)

30,373

29,764

29,440

29,220

28,901

28,348

27,693

26,352

27,030

27,364

TIFF per AWU (£)

10,995

12,296

16,367

16,202

15,441

20,695

24,021

22,047

18,357

22,590

Real Terms

Net Value Added at Factor Cost

675

682

783

768

750

853

900

803

743

793

TIFF

328

354

453

432

396

504

548

461

395

471

Cash Flow

610

400

489

525

456

513

511

497

553

663

TIFF per AWU (£)

10,805

11,884

15,374

14,779

13,696

17,791

19,801

17,479

14,629

17,213

Indices 2000 =100

Net Value Added at Factor Cost

114

115

132

130

127

144

152

136

126

134

TIFF

136

147

188

179

164

209

228

191

164

196

Cash Flow

206

135

165

177

154

173

173

168

187

224

TIFF per AWU (£)

138

152

196

189

175

227

253

223

187

220

(1) Net Value Added at Factor Cost (formerly known as Net Product) is a measure of the value added by the agricultural industry to all goods and services from outside agriculture after provision has been made for depreciation.
(2) Represents Net Value Added at Factor Cost less Rent and Interest payments and so is equivalent to the total returns to labour inputs.
(3) TIFF (Total Income From Farming) represents the return, to all those with an entrepreneurial interest in agricultural production, for their labour, management skills and own capital invested after providing for depreciation.
(4) The total volume of labour provided by those with an entrepreneurial interest in terms of full-time equivalents.
(5) After adjustments for input and output stock changes due to volume (including breeding livestock). Adjustments are also made to convert the effect of subsidies included within the calculation of TIFF from an accruals to a cash paid basis.
(6) The value of work carried out by entrepreneurial labour in the creation of new capital is deducted from the total value of capital investment.
(7) Deflated by the Retail Price Index 2000 = 100.

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