In 2022, agricultural operations reported $707,635 in operating revenues on average, up 10.1% from 2021, while average operating expenses increased by 13.6% to $576,003. As a result, average net operating income decreased by 2.9% to $131,632 in 2022.
Crop revenues accounted for nearly half (48.2%) of all operating revenues earned by Canadian farms in 2022, while livestock revenues accounted for 38.3%. The remaining revenues were from program payments, insurance proceeds and other revenues such as custom work and machine rental.
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