Government of Nova Scotia, Canada

Home > Economics and Statistics > Archived Daily Stats
The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.

<--- Return to Archive

For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

May 29, 2024

Statistics Canada has released preliminary results for annual farm incomes in Canada in 2023.  

Net farm income in Canada was $12.8 billion on farm cash receipts of $99.6 billion in 2023.  Canadian farm cash receipts were up by 4.4% while operating expenses (after rebates) grew by 2.3%.  Canadian net farm income was $21.7 billion in 2022.

In Nova Scotia, farms reported net loss of $40.5 million on cash receipts of $757.2 million. Nova Scotia farm cash receipts were up 4.3% while operating expenses (after rebates) rose by 2.7%. Nova Scotia's net farm income has been negative for seven consecutive years.  

Nova Scotia farm net incomes amounted to -5.4% (loss) of farm cash receipts in 2023, narrowing from a loss of 6.0% of farm cash receipts in 2022. There was negative net farm income for 2023 in Newfoundland and Labrador, Nova Scotia and British Columbia.  Both Newfoundland and Labrador and British Columbia have reported negative net farm incomes in each of the last four years.

National average net farm income was 12.9% of farm cash receipts in 2023, down from 22.8% in 2022. The highest net farm income as a share of 2023 farm cash receipts were reported in Saskatchewan (24.3%).

The composition of farm cash receipts is different in Nova Scotia from the national average. Across the country, grains (wheat, oats, barley, rye, flaxseed) make up the largest farm cash receipts, followed by cattle and calves.

In Nova Scotia, dairy products make up the largest cash receipts (though poultry and hogs are not reported individually for Nova Scotia and are reported in the substantial 'other livestock' category). Among crops, vegetables, cannabis, blueberries and apples make up the largest cash receipts.   

The largest growth in Canadian cash receipts in 2023 were from grains, cattle/calves and vegetables.   

The largest growth in Nova Scotia farm cash receipts were observed in insurance/stability payments, followed by cattle/calves, other livestock and dairy.  

Source: Statistics Canada.  Table  32-10-0052-01   Net farm income (x 1,000)Table  32-10-0045-01   Farm cash receipts, annual (x 1,000)

<--- Return to Archive