7101.0 - Ag Mag - The Agriculture Newsletter, Dec 2009
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 14/12/2009
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ECONOMIC AND FINANCIAL PERFORMANCE IN AGRICULTURE
Since 2002, the Annual Integrated Collection (AIC) program has included the Agriculture industry in the annual Economic Activity Survey. Estimates of economic and financial performance are derived using a combination of data from the Economic Activity Survey (EAS) and business tax data sourced from the Australian Tax Office (ATO).
The survey provides broad financial data on an annual basis at the Division A (Agriculture, Forestry and Fisheries) and subdivision level (Agriculture) for all farm business entities regardless of size. Data items published include employment, wages and salaries, income measures, expenses measures, capital expenditure, industry value added, operating profit before tax, and some business averages, industry ratios and business profitability measures.
To achieve high quality data from the EAS while minimising respondent burden, extensive effort is put into survey and questionnaire design, collection procedures and processing. Generalised regression estimation is amongst the statistical techniques and processes used by the survey - a form of ratio estimation using auxiliary data items (in this case, 'turnover' and 'wages' from the ATO) which strongly correlate with directly collected key data items.
A recently conducted review of agriculture data in the AIC concluded that the estimates are of a comparable quality to other industry statistics in the collection. The ABS itself is now making greater use of AIC Agriculture totals in compiling the National Accounts and would encourage any external analyses of the financial performance of the Agriculture industry to incorporate AIC agriculture statistics.
These data are published in Australian Industry (cat. no. 8155.0), the most recent edition being released in late May 2008 on the ABS web site. This latest edition includes 2004-05 and 2005-06 data, originally collected under ANZSIC93 and now mapped to ANZSIC06. This process, known as 'bridging', provides comparability with the 2006-07 and 2007-08 data. The 2008-09 estimates for Australian Industry will be released in late May 2010.
For further information, please contact Annual Collections on 02 9268 4269.
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