Total Income From Farming (TIFF): 2025

This release provides provisional estimates of aggregate agricultural output and total income from farming at the Wales level for 2025. These provisional estimates make use of information available up to March 2026 and are subject to revision when additional information becomes available.

The methodology for the Wales total income from farming account was reviewed for the 2025 calendar year to ensure that data processing and estimation methods align with statistical best practice and the principles of the Code of Practice for Statistics. As a result of this review, some revisions have been made to figures for previous years.

The estimates of total income from farming for 2023 and 2024, published in May 2025, have been revised upwards by approximately £10 million (2%) for 2023 and upwards by £126 million (38%) for 2024 in this release due to the availability of more data.

Please see Table 2 in the quality and methodology information section for more information on these revisions.

The total income from farming account is compiled using data from a wide variety of sources, for example, agricultural surveys, livestock markets, marketing organisations and the Department for Environment, Food and Rural Affairs (DEFRA).

Please see the quality and methodology information section for more information.

Total income from farming had reached an all-time high in 2022 following an exceptional year of price increases across the majority of commodities that offset increases in input prices. The rises in costs of living were more evident in the 2023 estimate - the increase in intermediate consumption compared to a modest increase in output resulted in an overall decrease in total income from farming.

The 2024 total income from farming estimate remained stable with a modest increase of 1% overall, driven by higher output from pigs, poultry and potatoes, which outweighed smaller increases in input prices.

In 2025, it is provisionally estimated that both gross value added and total income from farming increased (by 4% and 11% respectively) following a smaller increase last year. This was driven by higher outputs from milk and milk products that increased by £123 million (15%) in 2025.

The value of aggregate agricultural output (gross output) increased by approximately £99 million (or 4%) to around £2.4 billion in 2025.

Intermediate consumption (the goods and services consumed or used in the production process) increased by £67 million (or 4%) to around £1.6 billion in 2025. This is, in effect, an increase in costs.

Gross value added (aggregate agricultural output, less intermediate consumption) increased by around £33 million (a 4% increase) to around £786 million in 2025.

Total income from farming increased by around £50 million (an 11% increase) to approximately £505 million in 2025. This increase can be explained by a rise in outputs from milk and milk products and can be attributed to the relatively high farmgate milk prices in early 2025.

The value of output from cereals has decreased by £1 million (a 3% decrease) to around £40 million. Despite two consecutive years of decreases, the 2025 figures still remain higher than that of 2021.

The value of output from cattle remained high at £515 million but is a decrease of £26 million (or 5% from 2024). The value of output from sheep showed an increase of £25 million (or 8%) to approximately £344 million. Gross output from cattle and sheep is estimated to be 36% of the value of agricultural output in Wales.

The value of livestock decreased overall by 1% whilst livestock products increased by 13%. This increase was largely driven by the dairy sector of which included milk and milk products.

In looking more closely at intermediate consumption, feeding stuffs increased by just over £32 million (or 6%) to £571 million. Feeding stuffs are the largest component of intermediate consumption, at around a third.

The value of subsidies not linked to production increased by £3 million (1%) to £274 million. The majority of which was attributed to the Basic Payment Scheme and Glas Tir successor scheme payments.

Source: Welsh Government.

[Note 1] The total sum of: Cereals; Other crops; Potatoes; Horticulture; Livestock; Livestock products; Capital formation in livestock; Other agricultural activities; Inseparable secondary activities.

(r) 2022, 2023 and 2024 data was revised on 23 April 2026 and differs from the previously published aggregate agricultural output and income: 2024.

A longer timeseries of the aggregate agricultural accounts is available to view on StatsWales.

Source: Welsh Government.

(r) 2022, 2024 and 2024 data was revised on 23 April 2026 and differs from the previously published aggregate agricultural output and income: 2024.

A longer timeseries of the aggregate agricultural accounts is available to view on StatsWales.

Source: Welsh Government.

[Note 1] 'Gross output at basic price's minus 'Intermediate consumption'
[Note 2] 'Gross Output (at market prices)' minus 'Intermediate consumption'
[Note 3] 'Gross Value Added at basic prices' minus 'Consumption of fixed capital'
[Note 4] The total sum of: 'Net Value Added (at basic prices)'; 'Other subsidies'
[Note 5] 'Net Value Added (at factor cost)' minus 'Compensation of employees' minus 'Interest' minus 'Rent'

(r) 2022, 2023 and 2024 data was revised on 23 April 2026 and differs from the previously published aggregate agricultural output and income: 2024.

A longer timeseries of the aggregate agricultural accounts is available to view on StatsWales.

Total income from farming (TIFF)

Income generated by production within the agriculture industry, including subsidies. It represents business profits plus remuneration for work done by owners and other unpaid workers. It excludes changes in the value of assets, including stocks, due to price changes. It includes non-agricultural activities such as further processing or tourist activities where these cannot be separated from the farming business. It is the preferred measure of aggregate income, conforming to internationally agreed national accounting principles required by UK national accounts and Eurostat.

Gross output

Gross output represents the total value of agricultural production at basic prices, before deducting any input costs. Gross output includes:

• the value of crop output
• the value of livestock output
• the value of other agricultural output including agricultural services and inseparable non‑agricultural activities (e.g. farm diversification activities that cannot be separated from farming)

Gross output is measured on a calendar‑year basis and expressed in current prices, unless otherwise stated.

Intermediate consumption

Intermediate consumption is the value of goods and services used up in the production of agricultural output. It represents the day‑to‑day running costs of agricultural production and is deducted from gross output when calculating Gross Value Added (GVA) and Total Income from Farming.

Financial intermediation services indirectly measured (FISIM)

An estimate of the value of the services provided by financial intermediaries, such as banks, for which no explicit charges are made. Instead these services are paid for as part of the margin between rates applied to savers and borrowers. The supposition is that savers would receive a higher interest rate and borrowers pay a lower interest rate if all financial services had explicit charges. In these accounts, the amounts of interest paid and received are adjusted and the amount of FISIM is recorded with intermediate consumption.

Included in other farming costs (line 13 of the account under intermediate consumption) are items such as:

• pesticides
• seeds
• utilities
• insurance
• rates
• banking fees
• other general costs

Included in other subsidies (line 19 of the account) are:

• the Basic Payment Scheme up to 2023
• agri-environment payments (including Glastir, and legacy schemes such as Tir Mynydd and Tir Gofal) up to 2023
• various successor schemes following the end of Glastir (including the Nutrient Management Investment Scheme, Integrated Natural Resources Scheme, Agricultural Diversification Scheme, Small Grants - Environment Scheme, Small Grants - Horticulture Start Up and Growing for the Environment) for 2024 and 2025
• animal disease compensation (predominantly bovine TB) up to 2025
• payments to Welsh dairy farmers from the:
  • EU Dairy Package: £3.2 million in 2015
  • EU Conditional Aid Benchmarking Scheme: £3.2 million recorded against 2016, although this was actually paid out in 2017
  • EU Milk Reduction Fund: £1.1 million recorded against 2016, although this was actually paid out in 2017

These subsidies are not included in agricultural output since they are decoupled from production, but they are included in total income from farming (TIFF) in accordance with national accounting conventions.

Basic Payment Scheme information included in the 2025 provisional estimate is based on an estimate of the total value that will be paid as a result of applications made in 2025. In other words, the 2025 provisional estimate includes all basic payments made to date and an estimate of the value of payments that will be made throughout 2026 (for applications made in 2025). 

All of these estimates will be revised in future publications when final figures become available.

These results are produced using internationally agreed national accounting principles.

Income measures exhibit some degree of volatility across years, influenced by prevailing market conditions. As all the measures of income include an element relating to profits, these measures in the agricultural sector are therefore more volatile than measures in other sectors (which are defined purely in terms of income from wages).

There are two main measures of agricultural income which are closely related and complement each other. Farm business income (not covered in this release) provides a breakdown of average incomes by farm type. A second measure covered in this release is the total income from farming (TIFF), which provides an estimate of total income for agriculture as a whole. Table 3.3 in Chapter 3 of the Farming Income release published by Defra compares the two measures in terms of definition, methodology and main similarities and differences.

Definitions and explanatory notes, Defra Farm Incomes.

Rounding

The figures shown in this release have been rounded to the nearest million pounds. Calculations such as percentage or actual change have been made on unrounded figures. 

Potato data

The Agriculture and Horticulture Development Board (AHDB) ceased publication of GB potato market intelligence in July 2021 following an industry vote. Since then, 2020 potato price data had been used as an interim estimate. As this approach has become less representative over time, the methodology has been updated using trends in Northern Ireland potato prices to uplift historic Welsh potato data.

Methodology

At the time of publication, not all data are available for 2025 which has meant that some values have been estimated. Consequently, this provisional estimate is subject to a degree of revision when the 2026 estimate is published next year.

The estimates are calculated using a range of available market price data including but not limited to the AHDB for data on the cereal and milk markets in addition to historical liveweight and prime cull weighted prices. Data from the BCMS cattle registration and movement records and Defra egg packing data are also utilised. The latest June Survey also provides an estimate on production trends within the Welsh agricultural sector.

Given that TIFF is the relatively small difference between two large numbers it is sensitive to small percentage changes in the values of outputs and intermediate consumption. This means that a combination of smaller revisions in outputs and intermediate consumption leads to more sizeable revisions in percentage terms to Gross Value Added and TIFF.

Welsh Government plan to work with DEFRA and other devolved nations to continue to review the and improve the current processes in place for estimating the aggregate agricultural accounts. It is therefore anticipated that future releases will have further revisions to figures and changes in methodology in place. These changes will be explained in detail in the next release.

Revisions

As a result of more data becoming available over time, figures for previous years are regularly revised to include up-to-date information. These revisions are intended to enhance the precision of the estimates. Sometimes additional revisions are necessary to refine the methodology.

Revisions made in 2025 are primarily due to a review of historic subsidy payment data supplied by Rural Payments Wales (RPW) and a change in the methodology used to calculate potato price data.

Following a recent review by Defra of their own data, several revisions have been made to their historical data as a result of improvements in data processing. These revisions feed through to the Wales Total Income from Farming estimates where Defra data are used, resulting in corresponding changes to the Welsh figures. For further information, you can contact the relevant Defra team by emailing farmaccounts@defra.gov.uk.

Table 2 below shows revisions to figures for 2023 and 2024 that have been made in this edition of the release.

Source: Welsh Government.

The figures for 2023 compare the provisional figures published in May 2025 with the final figures published in April 2026. The comparison is less stable for the 2024 calendar year and this is the result of a methodology review and revision of subsidy data previously provided by RPW following a transition between Glastir payments and subsequent successor schemes. As we would expect, the changes in total income from farming are larger for 2024 when comparing the provisional estimate published in 2025 with the provisional figures published in 2026.

The figures in this release will be revised in the future to include up-to-date information from sources such as the Farm Business Survey for March 2025 to April 2026.

Any revisions to the 2025 agricultural output and income figures will be published alongside 2026 provisional estimate estimates in April 2027 (provisional). In line with the above, the figures for agricultural output and income in 2022 and 2023 have been revised to incorporate up-to-date information. Figures for 2025 remain provisional.

Methodological and terminological changes were made in 1998 to conform to the requirements of both the 1993 System of National Accounts (SNA) and the UK National Accounts.

Statement of compliance with the Code of Practice for Statistics

These statistics are not classed as official statistics. However, we have applied the principles of the Code of Practice for Statistics as far as possible during development.

The methodology for the total income from farming statistics are currently under review in order to further improve upon the accuracy of the estimates. We welcome any feedback or suggestions to sources that we should consider.

We have therefore voluntarily applied the Code of Practice for Statistics as follows.

Trustworthiness

We have been honest in our use of data sources and where appropriate have caveated where sources have changed between publications. We have presented information accurately, clearly and impartially.

Quality

The published figures provided are compiled by professional analysts using the latest available data and applying methods using their professional judgement and analytical skillset. Statistics published by Welsh Government adhere to the Statistical Quality Management Strategy which supplements the Quality pillar of the Code of Practice for Statistics (UK Statistics Authority) and the European Statistical System principles of quality for statistical outputs.

Value

The purpose of this statistical release is to provide evidence for policy development and to assist in compiling the UK level aggregate accounts.

You are welcome to contact us directly with any comments about how we meet these standards. Alternatively, you can contact OSR by emailing regulation@statistics.gov.uk or via the OSR website.

Well-being of Future Generations Act (WFG)

The Well-being of Future Generations Act 2015 is about improving the social, economic, environmental and cultural wellbeing of Wales. The Act puts in place seven wellbeing goals for Wales. These are for a more equal, prosperous, resilient, healthier and globally responsible Wales, with cohesive communities and a vibrant culture and thriving Welsh language. Under section (10)(1) of the Act, the Welsh Ministers must (a) publish indicators (“national indicators”) that must be applied for the purpose of measuring progress towards the achievement of the wellbeing goals, and (b) lay a copy of the national indicators before Senedd Cymru. Under section 10(8) of the Well-being of Future Generations Act, where the Welsh Ministers revise the national indicators, they must as soon as reasonably practicable (a) publish the indicators as revised and (b) lay a copy of them before the Senedd. These national indicators were laid before the Senedd in 2021. The indicators laid on 14 December 2021 replace the set laid on 16 March 2016.

Information on the indicators, along with narratives for each of the wellbeing goals and associated technical information is available in the Wellbeing of Wales report.

Further information on the Well-being of Future Generations (Wales) Act 2015.

The statistics included in this release could also provide supporting narrative to the national indicators and be used by public services boards in relation to their local wellbeing assessments and local wellbeing plans.

Rural Affairs and Environment Statistics
Email: stats.agric@gov.wales

Media: 0300 025 8099

SFR: 30/2026