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Farm borrowing statistics
13/08/2008
Scotland's Chief Statistician today published farm borrowing statistics based on information collected from banks and mortgage companies operating in Scotland.
At the end of May 2008 total outstanding advances to the Scottish agricultural industry were estimated to be £1,390 million. This represents a decrease of £29 million (two per cent) on the 2007 figure. In real terms (adjusting for inflation) the level of borrowing has decreased by 4.7 per cent.
The figures include advances to agricultural contractors and livestock salesmen. However, advances to farmers accounts for over 97 per cent of the total, with 88 per cent of total advances to agriculture going to owner-occupiers.
National Statistics are produced to high professional standards set out in the National Statistics Code of Practice. They undergo regular quality assurance reviews to ensure they meet customer needs. They are produced free from any political interference.