>State Statisticsl Report R:pg083

FARM BALANCE SHEET

Excluding Farm Households, December 31, Selected Years 1/
Item	1970	1980	1990		1993	1994	1995	1996
	-Million Dollars-
Total Farm Assets	4,193	12,315	14,744		16,020	16,772	17,649	18,533
Real Estate 2/	3,024	9,522	11,297		12,483	13,062	14,204	14,804
Livestock and Poultry 3/	289	897	1,085		1,067	1,022	885	871
Machinery and Motor Vehicles 4/	499	1,229	1,299		1,269	1,321	1,345	1,361
Crops 5/	113	251	297		203	276	307	387
Purchased Inputs	NA	NA	22		33	48	35	49
Financial	268	416	745		965	1,043	873	1,060
Total Farm Debt	522	1,810	1,920		1,905	1,885	1,841	1,817
By Purpose:
Real Estate Debt 6/	313	1,000	1,177		1,207	1,220	1,167	1,127
Non-Real Estate Debt 7/	208	809	743		698	665	675	690
By Lender:
Farm Credit System	153	666		911	983	934	892	873
Farm Service Agency	29	290		214	150	137	117	91
Commercial Banks	171	331		403	385	411	417	422
Life Insurance Companies	29	34		88	49	45	40	35
Individuals and Others	139	478		303	337	358	375	396
Equity	3,671	10,505	12,824		14,115	14,887	15,807	16,716
Ratios
Equity/Assets	87.6	85.3	87.0		88.1	88.8	89.6	90.2
Debt/Equity	14.5	17.6	15.5		13.5	12.7	11.7	10.9
Debt/Assets	12.7	15.0	13.4		11.9	11.2	10.4	9.8
1/ Data are for farms with sales of $1,000 or more annually. 2/ Excludes value of operator dwellings. 3/ Excludes horses, mules, and broilers. 4/ Includes only farm share value for trucks and autos. 5/ All non-CCC crops held on farms plus the value above loan rate for crops held under CCC. 6/ Excludes debt on operator dwellings, but includes CCC storage and drying facility loans. 7/ Excludes debt for non-farm purposes.

Number Of Farms, Land In Farms, and Farmland Values, 1965 - 1997 1/

YEAR Number
of Farms Farm
Land Average
Size Average Acre Value Of Farmland and Buildings

-Thousand Acres- -Acres-
-Dollars-

1965* 85,000 12,300 145 190

1970* 76,000 11,400 150 286

1975 62,000 10,100 163 558

1980 58,000 9,800 169 1,028

1985 54,000 9,500 176 1,112

1986 51,000 9,300 182 1,179

1987 49,000 9,100 186 1,154

1988 48,000 9,100 190 1,198

1989 47,000 9,000 191 1,397

1990 46,000 8,900 193 1,665

1991 45,000 8,800 196 1,490

1992 45,000 8,700 193 1,643

1993 45,000 8,600 191 1,636

1994 46,000 8,600 187 1,690

1995 47,000 8,600 183 1,771

1996 48,000 8,600 179 1,925

1997 47,000 8,500 181 2,030

1/ Places that sell or normally would sell $1,000 of agricultural products. * Places of 10 or more acres that had annual sales of agricultural products of $50 or more and places of less than 10 acres that had annual sales of $250 or more.

Virginia Agricultural Statistics Service . (800) 772-0670

Number Of Farms, Land In Farms, and Farmland Values, 1965 - 1997 1/
YEAR	Number of Farms	Farm Land	Average Size	Average Acre Value Of Farmland and Buildings
		-Thousand Acres-	-Acres-	-Dollars-
1965*	85,000	12,300	145	190
1970*	76,000	11,400	150	286
1975	62,000	10,100	163	558
1980	58,000	9,800	169	1,028
1985	54,000	9,500	176	1,112
1986	51,000	9,300	182	1,179
1987	49,000	9,100	186	1,154
1988	48,000	9,100	190	1,198
1989	47,000	9,000	191	1,397
1990	46,000	8,900	193	1,665
1991	45,000	8,800	196	1,490
1992	45,000	8,700	193	1,643
1993	45,000	8,600	191	1,636
1994	46,000	8,600	187	1,690
1995	47,000	8,600	183	1,771
1996	48,000	8,600	179	1,925
1997	47,000	8,500	181	2,030
1/ Places that sell or normally would sell $1,000 of agricultural products. * Places of 10 or more acres that had annual sales of agricultural products of $50 or more and places of less than 10 acres that had annual sales of $250 or more.