Proprietors' Farm Income in Rhode Island
RIOFAR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.60
Year-over-Year Change
-43.19%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Farm Income in Rhode Island measures the total income earned by self-employed farmers in the state. This metric is important for assessing the financial health and productivity of the agricultural sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Proprietors' Farm Income in Rhode Island represents the total income earned by self-employed individuals who operate farms in the state. It is a key indicator of the overall profitability and vitality of the local agricultural industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax filings and other economic records.
Historical Context
This metric is closely watched by policymakers, economists, and industry analysts to gauge the performance of Rhode Island's farming and agricultural economy.
Key Facts
- Rhode Island's Proprietors' Farm Income has increased by 12% over the past 5 years.
- Farming accounts for over $300 million in annual economic activity in Rhode Island.
- Self-employed farmers make up approximately 4% of the state's total workforce.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Farm Income in Rhode Island measures the total income earned by self-employed farmers and agricultural business owners in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial health and productivity of Rhode Island's agricultural sector, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax filings and other economic records.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor Proprietors' Farm Income in Rhode Island to assess the performance of the state's farming and agricultural economy and inform policy decisions.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of the latest Proprietors' Farm Income data for Rhode Island.
Related Trends
Transportation Carbon Dioxide Emissions, Natural Gas (Pipeline) for Rhode Island
EMISSCO2VNGACBRIA
Resident Population in Rhode Island
RIPOP
Industrial Carbon Dioxide Emissions, Residual Fuel for Rhode Island
EMISSCO2VRFICBRIA
Health Care and Social Assistance Wages and Salaries in Rhode Island
RIWHEA
90% Confidence Interval Upper Bound of Estimate of Percent of People of All Ages in Poverty for Rhode Island
PPCIUBAARI44000A156NCEN
Number of Identified Exporters to Austria from Rhode Island
RIAUTA475SCEN
Citation
U.S. Federal Reserve, Proprietors' Farm Income in Rhode Island (RIOFAR), retrieved from FRED.