Farm household income increased last year due to the effect of the Corona virus quarantine relief and disaster subsidy

Average farm household income of 47.76 million won… 6.1%↑ compared to the previous year

Average income of fishermen is 1.5% due to increase in fishery operating expenses↓

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(Sejong = Yonhap News) Reporter Bo-bae Lee = Last year, it was found that farm households’ income increased due to the easing of COVID-19 quarantine and the government’s disaster subsidy payment.

According to the ‘2021 Farm Household and Fishing House Economic Survey Results’ announced by the National Statistical Office on the 28th, the average farm income last year was 47.76 million won, up 6.1% from the previous year.

Non-agricultural income was 17.88 million won, a 7.7% increase from the previous year.

Among them, as the food, lodging, and wholesale and retail businesses showed signs of recovery due to the easing of social distancing, the income from double jobs rose 11.7% from the previous year to 5.51 million won.

Due to the increase in public and private subsidies such as COVID-19 disaster aid, transfer income increased 3.8% from the previous year to 14.81 million won.

Despite a 0.1% increase in agricultural operating expenses, the total agricultural income increased by 3.2% thanks to good crops, resulting in an average farm income of 12.95 million won, an increase of 9.7% from a year ago.

The average household expenditure of farm households was 35.5 million won, an increase of 2.9% from the previous year.

As of the end of last year, the average farm household’s assets stood at 585.68 million won, an increase of 3.5% from the previous year, and the average liabilities decreased by 2.7% to 36.59 million won.

The average income of fishermen last year was 52.39 million won, down 1.5% from the previous year.

The average fishing income of fishermen was 19.68 million won, down 13.4% from the previous year. Total fishery revenue increased by 1.0%, but fishery operating expenses increased by 7.1%.

Non-fishing income was 14.31 million won, up 10.4% from a year ago.

In the case of transfer income, private subsidies decreased by 0.9%, but public subsidies such as disaster aid increased by 9.9%, resulting in a 9.6% increase from the previous year to 15.71 million won.

The average household expenditure of fishermen last year was 32.13 million won, an increase of 5.1% from the previous year.

As of the end of last year, the average assets of fish households stood at 51.87 million won, down 0.3% from a year ago, and the average debt increased by 0.8% to 64.4 million won.

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