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 National Survey of New Zealand Agricultural Sector Debt 1998

Table of Contents

• Disclaimer

• Foreword

• 1. Summary
  • 1.1 Project and Client
  • 1.2 Objectives
  • 1.3 Methods
  • 1.4 Results
    
• 2. Introduction

• 3. Background

• 4. Objectives

• 5. Methods
  • 5.1 Sample
  • 5.2 Survey administration
  • 5.3 Response rate
  • 5.4 Terms used
  • 5.5 Division of farms into size quintiles
  • 5.6 Median or mean data
  • 5.7 Characteristics of the sample
  • 5.8 Estimation of the number of farms in New Zealand

• 6. Results
  • 6.1 Distribution of surveyed farms by farm size
  • 6.2 Proportion of farms reporting liabilities
  • 6.3 Source and purpose of loans
  • 6.4 Liabilities by farm type
  • 6.5 Liabilities and income
  • 6.6 Farm assets
  • 6.7 Farm equity
  • 6.8 Total debt on New Zealand farms
  • 6.9 Precision of estimates
  • 6.10 Comparison of data for 1988 and 1998
  • 6.11 Change in debt between 1995 and 1998
  • 6.12 Comparison with data from other sources
  • 6.13 Respondents’ comments
    
• 7. Discussion and Conclusion

• 8. Acknowledgements

• 9. References

• 10. Appendices
  • 10.1 Questionnaire
  • 10.2 Comparison of current and term liabilities in 1995 with those in 1998
  • 10.3 Sources of published information on farm liabilities

List of Tables

Table 1 Number of farms in sample

Table 2 Response rate

Table 3 Number of farms in each farm-size quintile by farm type and total number of farms in survey

Table 4 Geographic distribution of farms in Agribase and survey sample

Table 5 Demographic comparisons between Agribase and survey sample

Table 6 Estimated number of farms in New Zealand

Table 7 Number and percent of farms reporting liabilities

Table 8 Purpose of loans

Table 9 Source of finance for loans

Table10 Liabilities by source and main purpose

Table 11 Average and median current liabilities, term liabilities, and total liabilitiesby farm type

Table 12 Liabilities on dairy farms by ownership structure

Table 13 Incidence and size of family loans

Table 14 Ratio of liabilities to gross income

Table 15 Average value of assets and proportion of total assets represented by each type of asset, by farm type

Table 16 Equity by farm size and farm type

Table 17 Estimated agricultural sector debt in New Zealand

Table 18 Estimated percentages of farms with liabilities

Table 19 Estimates of total liabilities for all farms

Table 20 Estimates of total liabilities for farms with liabilities

Table 21 Comparison of agricultural sector debt for 1988 and 1998

Table 22 Change in total average debt by farm type between 1988 and 1998

Table 23 Change in total average debt by farm sector between 1988 and 1998

Table 24 Comparison of ratio of liabilities to expected value of agricultural output (EVAO) in 1988 and gross income in 1998

Table 25 Comparison of total liabilities in 1995 with liabilities in 1998, for those farms providing data for both years

Table 26 Increase in average debt per farm between 1988 and 1998 and between 1995 and 1998 by farm type

Table 27 Comparison of sheep and beef farm average liabilities from our survey with data from other sources

Table 28 Comparison of dairy farm average liabilities from our survey with data from other sources

Table 29 Comparison of horticulture and cropping farm average liabilities from our our survey with data from other sources

Table 30 Respondents’ general comments on their debt

List of Figures

Figure 1 Distribution of farms by income class and farm type

Figure 2 Distribution of farms by area class and farm type (area owned)

Figure 3 Current, term, and total liabilities by farm type (average loan per farm)

Figure 4 Total liabilities by farm size and farm type (average loan per farm)

Figure 5 Total liabilities by farm size and farm type (median loan per farm)

Figure 6 Proportion of farms in each loan size category by farm type

Figure 7 Proportion of liabilities over $600,000 by farm size and farm type

Figure 8 Total equity by farm size and farm type (average per farm)

Figure 9 Percentage of farms in each equity class by farm type

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Contact for Enquiries

Rural Affairs Coordinator
Sector Performance Policy
MAF Policy
Ministry of Agriculture and Forestry
PO Box 2526
Wellington
NEW ZEALAND

Phone: +64 4 894 0675
Fax: +64 4 4 894 0745
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