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TABLE 6 ECONOMIC INDICATORS OF SCOTTISH AGRICULTURE
£ million | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 (2nd Provisional) | 2007 (1st Provisional) |
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Current Prices | Net Value Added at Factor Cost (1) | 654.134 | 584.979 | 581.668 | 606.397 | 679.217 | 698.906 | 818.560 | 847.838 | 822.513 | 932.867 | 1050.325 |
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Returns to all Labour (2) | 528.723 | 448.970 | 470.089 | 491.685 | 570.671 | 600.688 | 719.406 | 739.052 | 709.432 | 813.991 | 911.508 |
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TIFF(3) | 308.405 | 221.951 | 231.621 | 255.529 | 326.210 | 359.997 | 472.220 | 484.155 | 434.503 | 537.552 | 627.543 |
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Annual Work Units of Entrepreneurial Labour (4) | 30,867 | 31,555 | 31,279 | 30,778 | 30,373 | 29,764 | 29,439 | 29,221 | 28,901 | 28,204 | 29,764 |
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TIFF per AWU (£) | 9,991 | 7,034 | 7,405 | 8,302 | 10,740 | 12,095 | 16,041 | 16,569 | 15,034 | 19,059 | 21,084 |
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Adjusted TIFF(5) | 289.814 | 242.850 | 251.245 | 252.625 | 326.980 | 361.620 | 474.938 | 476.361 | 457.319 | 506.835 | 643.840 |
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Depreciation | 226.372 | 228.328 | 229.784 | 226.406 | 226.323 | 226.990 | 220.976 | 216.334 | 217.699 | 217.513 | 213.743 |
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Capital Grants | 18.787 | 14.988 | 12.369 | 11.736 | 200.173 | 16.041 | 17.110 | 13.075 | 12.215 | 19.710 | 21.037 |
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Change in Borrowings | 127.400 | -32.576 | -4.937 | 0.143 | 11.044 | -19.854 | -57.610 | 80.292 | 20.647 | 15.622 | -17.297 |
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Sub Total | 372.559 | 210.740 | 237.216 | 238.285 | 437.540 | 223.177 | 180.476 | 309.735 | 250.598 | 252.088 | 217.483 |
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Capital Investment (6) | 135.686 | 129.562 | 152.141 | 183.352 | 134.292 | 184.955 | 140.767 | 182.526 | 174.008 | 177.168 | 178.884 |
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Cash Available | 526.687 | 324.028 | 336.320 | 307.558 | 630.229 | 399.842 | 514.647 | 603.571 | 533.908 | 581.755 | 682.439 |
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Real Terms (7) | Net Value Added at Factor Cost | 707.125 | 611.467 | 598.694 | 606.397 | 667.071 | 675.369 | 768.599 | 773.170 | 729.178 | 801.570 | 867.822 |
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TIFF | 333.388 | 232.001 | 238.401 | 255.529 | 320.376 | 347.873 | 443.398 | 441.516 | 385.198 | 461.894 | 518.502 |
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Cash Flow | 569.354 | 338.700 | 346.165 | 307.558 | 618.958 | 386.376 | 483.235 | 550.415 | 473.323 | 499.876 | 563.859 |
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TIFF per AWU (£ 000) | 10,801 | 7,352 | 7,622 | 8,302 | 10,548 | 11,688 | 15,062 | 15,110 | 13,328 | 16,377 | 17,420 |
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Index 2000 = 100 | Net Value Added at Factor Cost | 117 | 101 | 99 | 100 | 110 | 111 | 127 | 128 | 120 | 132 | 143 |
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TIFF | 130 | 91 | 93 | 100 | 125 | 136 | 174 | 173 | 151 | 181 | 203 |
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Cash Flow | 185 | 110 | 113 | 100 | 201 | 126 | 157 | 179 | 154 | 163 | 183 |
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TIFF per AWU | 130 | 89 | 92 | 100 | 127 | 141 | 181 | 182 | 161 | 197 | 210 |
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(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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