Proprietors' Farm Income in Virginia
VAOFAR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
362.60
Year-over-Year Change
-57.12%
Date Range
1/1/1948 - 1/1/2025
Summary
The Proprietors' Farm Income in Virginia measures the income earned by self-employed farmers in the state. This indicator is important for analyzing agricultural sector performance and formulating appropriate economic policies.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Proprietors' Farm Income represents the net income earned by farmers who operate their own farms in Virginia. It is a key metric for assessing the financial health and profitability of the state's agricultural industry.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers use this trend to understand dynamics in Virginia's farm economy and inform decisions around agricultural subsidies, tax policies, and rural development programs.
Key Facts
- Virginia is a major agricultural state, generating over $70 billion in annual farm sales.
- Proprietors' Farm Income accounts for roughly 10% of Virginia's total personal income.
- Farm incomes in Virginia have grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Proprietors' Farm Income in Virginia measures the net earnings of self-employed farmers and ranchers operating in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the financial health and profitability of Virginia's agricultural sector, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records on farm operations.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform decisions around agricultural subsidies, tax policies, and rural development programs in Virginia.
Q: Are there update delays or limitations?
A: The Proprietors' Farm Income data is typically published on a quarterly basis with a short lag, providing timely insights into the state's farm economy.
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Citation
U.S. Federal Reserve, Proprietors' Farm Income in Virginia (VAOFAR), retrieved from FRED.