Last year, Ukrainian farmers’ profit decreased by 63% to UAH 87.1B.

The Institute of Agrarian Economics reported that this is the total profit from the agricultural, forestry, and fishing industries. The department noted that this is the highest indicator in terms of physical volumes among all types of economic activity, while it is 63% less than the record level in 2021.

According to the institute, the agricultural sector became one of the four that maintained a positive financial result in war time conditions, and it achieved the highest operating profitability (20.3%) and overall activity (13.6%).

The industry has reportedly suffered significant losses because of the war. However, 78.4% of its enterprises were able to ensure a positive financial result. Although the share of unprofitable agricultural enterprises increased from 11.7% in 2021 to 21.6% last year, it is the smallest among all types of economic activity.

At the same time, high dependence on the export of products requires radical measures to expand the possibilities for selling agricultural products, especially those with a high added value content.