5.0 Agricultural Sector Revenue and Expenditure
Revenue and expenditure items at farm or orchard gate are provisional for March years ended 2001 and 2002, estimated for 2003, and projected out to 2008 as set out in Table 4. These are based on the forecasts of key export products, together with forecasts of other farm products, such as pigmeat and poultry, and services that contribute to gross domestic product (GDP) for the agriculture sector.
Agricultural sector revenue is estimated to fall by 10% to $16.0 billion for year ended March 2003. Revenue is projected to further decline to $14.3 billion by March 2004 and then rises to $17.7 billion by 2008. The estimated decline in revenue for the year ending March 2003 reflects falls from dairy, cattle, deer, pigs, sales of live animals, fruit, other horticultural crops and agricultural services. The further decline in revenue for the year ended March 2004 mainly reflects decreases from most products. The increase out to year ended March 2008 is mainly due to dairy and sheep meat.
For the year ending March 2003, contribution to GDP is projected to fall by 16% to $7.97 billion and agricultural sector income (for taxation purposes) to fall to $4.40 billion. Rising agricultural sector revenue out to year ended March 2008 is responsible for the increase in GDP contribution and agricultural sector income. The intermediate consumption also rises over this period.
Contact for further information:
Jagdish Prasad
Phone: (04) 474 4153
Email: jagdish.prasad@maf.govt.nz
