Average net operating income of per dairy farms in Canada 2013-2022

The average net income per dairy farms in Canada amounted to approximately 246,264 Canadian dollars in 2022. This figure has fluctuated in recent years, with figures dipping to around 145,000 Canadian dollars in 2018 before increasing again. 

What is net income?

According to U.S. agricultural policy, net farm income is the sum of money or value of goods which farm owners receive after all production expenditures have been paid. Net income can include monetary gains from farm production, as well as income from renting farm dwellings and the value of goods consumed on the farm.

Canadian dairy trade

Canada is a big player in the global trade of dairy products. In 2021, almost 400 million U.S. dollars’ worth of dairy and eggs were exported from Canada to the rest of the world. The United States was their biggest trading partner in that year, receiving around 221 million U.S. dollars’ worth of goods. Canada imports an even larger sum of dairy goods from the United States. In the same year, they received approximately 373.5 million U.S. dollars of dairy products.