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Approximately two-thirds of farms have no business related debt across all farm systems.
Approximately two-thirds of farms have no business related debt across all farm systems. Previous Next
The average debt on Irish farms in 2020 was €59,982, with 35% of farms having borrowings, the National Farm Survey for 2020 shows.
Some 76% of farm-related debt was classified as medium- or long-term debt, 16% related to hire purchase and leasing, while 8% was deemed short-term debt.
Approximately two-thirds of farms have no business-related debt across all farm systems
There was a 5% increase in gross new investment on Irish farms in 2020.
Dairy
Six out of 10 dairy farms had borrowings in 2020 and 64% of dairy farms have some level of debt, with borrowings averaging €112,476, representing represents a decrease of 4% on 2019 levels.
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