In Ukraine, more than 1,200 agricultural enterprises have closed since the start of the full-scale invasion.

At the beginning of 2022, businesses had almost ceased hiring, and people were not looking for work. According to IMF estimates, Ukraine’s total losses amounted to 35% of GDP, and many companies stopped their operations or evacuated. As one example, from 2022 to the first quarter of 2024, 1,261 agricultural enterprises closed in Ukraine – this is one of the sectors that has suffered the most.

However, despite missile attacks and problems with electricity supply and logistics, the number of individual entrepreneurs has increased by 12% in the last year alone, and Ukrainian business positively assesses their prospects for economic activity. The number of companies that started working in international markets has increased from 4% to 17% in 2023. Another 14% of enterprises planned to expand their business, and 27% considered entering new markets this year.

By 2023, Ukrainian businesses had received €4B from international partners, including direct financing, grants, and war risk insurance.