The net profit received by agricultural, forestry and fisheries enterprises in 2020 amounted to UAH 81.1 billion (11% down compared to 2019), this value exceeded the profitability indicators of other types of economic activity in Ukraine, the National Scientific Center Institute of Agrarian Economics (IAE) said on its website on Tuesday.
“Last year, 82.6% of enterprises in the industry saw UAH 107.9 billion of net profit, while only 17.4% of enterprises ended the year with losses of UAH 26.8 billion. This is the best indicator among all types of economic activity, where on average there were 71.0% of profit-making and 29.0% of loss-making enterprises,” Director of the IAE Yuriy Lupenko said.
The IAE recalled that the net profit of agricultural enterprises in 2019 amounted to UAH 91.3 billion, and the share of profit-making enterprises – 83.0%, while in the whole economy it was UAH 671.9 billion and 74.0%, respectively.
“So, at the end of 2020, the profits of agricultural enterprises decreased by almost UAH 10 billion, while maintaining a high share of profit-making enterprises,” Lupenko said.
In addition to agriculture, the largest net profit to the Ukrainian economy in 2020 was brought by enterprises of the financial sector and insurance activities (UAH 25.3 billion); repair of vehicles (UAH 22.2 billion); healthcare and social assistance (UAH 18.9 billion); transport, warehousing, postal and courier activities (UAH 18.0 billion); information and telecommunications (UAH 14.3 billion).
According to the IAE, the most significant losses were incurred in the past year by industrial enterprises (UAH 39.8 billion of loss) and the real estate industry (UAH 35.2 billion). The share of profitable enterprises in the agro-industrial complex significantly exceeds this value for other sectors of the economy. In particular, the share of profitable enterprises in the field of healthcare and social assistance amounted to 75.6% of their total number, repair of motor vehicles and motorcycles – 74.1%, transport, warehousing, postal and courier activities – 71.3%. At the same time, the smallest number of profit-making enterprises in 2020 was in the field of art, sports, entertainment and recreation (53.4%), as well as temporary accommodation and catering (58.8%).
FOREIGN DIRECT INVESTMENTS IN THE ECONOMY OF UKRAINE IN 2020 (OPERATIONS, $ MILLION)
ECONOMY, ECONOMY OF UKRAINE, FOREIGN DIRECT, FOREIGN INVESTMENT
The Macroeconomic Review section has been launched on a monthly basis within the framework of the Experts Club. In the first video, the co-founder of the project, PhD in Economics, Maksim Urakin, analyzed the main macro indicators.
“The goal of our Macroeconomic Review project is to provide the viewer with the key statistics and information in the most convenient form, to do it succinctly and clearly, replacing cumbersome tables and lengthy reasoning with graphic analysis,” research organizer Maksim Urakin said.
In the block on the population of Ukraine, the latest data of the State Statistics Service on the number of residents of our country were presented, a comparison was made between the statistics of state bodies and the indicators of the so-called “electronic census” of January 2020. In addition, the latest data on unemployment and wages in the regions were studied.
In the economic block, the indicators of GDP, the volume of foreign trade, the main trade partners of Ukraine, the national debt, the indicators and sources of investment and industrial production are analyzed.
All data is presented in the form of graphs and diagrams that complement the visual backdrop.
In the future, the Experts Club will analyze and present both the current statistics of Ukraine and compare the latest data with the previous periods, as well as with the indicators of other countries.
In addition, a series of thematic programs are planned, which will be devoted to the state of various sectors of the Ukrainian economy and their characteristics over the period of 30 years of independence.
The full video can be found on the Experts Club YouTube channel at the link:
https://www.youtube.com/watch?v=tCKGn3uGR_Y
You can subscribe to the Experts Club channel here.
The government has approved the forecast of economic and social growth of Ukraine for the next three years, according to which GDP growth under the baseline scenario is expected at 3.8% in 2022, 4.7% in 2023 and 5% in 2024, the Ministry of Economy reported on the website.
Oxford Economics has improved its forecast for Ukraine’s real GDP growth in 2021 to 4.9%, up from 4% in the February forecast.
The decline in Ukraine’s GDP in January-April 2021 slowed down to 0.2%, according to an estimate by the Ministry of Economy.
The real gross domestic product of Ukraine in the first quarter of 2021 decreased 2.2%, the State Statistics Service reported the updated estimate on Tuesday, while in the middle of May the decline was tentatively assessed at 2%.
The European Bank for Reconstruction and Development (EBRD) has improved its forecast for the economic growth in Ukraine in 2021 from 3% to 3.5%, according to its June forecast.
The negative balance of Ukraine’s foreign trade in goods in January-April 2021 increased by 47.3% compared to January-April 2020, to $ 1.299 billion from $ 882 million, the State Statistics Service has reported.
The negative balance of Ukraine’s foreign trade in goods in January-June 2021 decreased by 8.36%, to $1.25 billion with an increase in exports of almost 30.3%, to $29.97 billion, imports – by 28.4%, to $31.22 billion, according to data from the State Customs Service.
The growth of consumer prices in Ukraine in May 2021 in annual terms accelerated to 9.5% from 8.4% in April.
The state budget in May 2021 had a deficit of UAH 4.6 billion, while the state budget deficit in January-May 2021 amounted to UAH 33.7 billion, according to data from the State Treasury Service of Ukraine.
The total public debt of Ukraine in May 2021 grew by 0.21% in U.S. dollars, to $91.52 billion and decreased by 0.69% in hryvnias, to UAH 2.516 trillion, according to data on the website of the Ministry of Finance, published in Friday.
Industrial production in Ukraine in May 2021 increased by 5.4% compared to May 2020, while in April the growth was 13%, in March – 2.1%, and in February and January there was a decline, respectively by 4.6% and 4%, the State Statistics Service has said.
Prices in the Ukrainian industry in May 2021 increased by 3.6%, while in April – by 1.2%, in March – by 1.6%, in February – by 7.8%, in January – by 5.2%, the State Statistics Service has said.
Ukraine completed the 2020/2021 marketing year (MY, July-June), having exported 48.8 million tonnes of grains and oilseeds, which is 17% less than the volumes predicted a year ago, the Ukrainian Grain Association (UGA) reported on the website.
Prices for construction and assembly work in Ukraine in May 2021 increased by 16.8% compared to May 2020, the State Statistics Service has reported.
The retail trade turnover of Ukraine in May 2021 grew by 22.7% compared to the same month in 2020 in comparable prices, while in April this figure was 34.3%, the State Statistics Service said on Tuesday.
Publisher of “Open4Business”, PhD in Economics, Maksim Urakin
The fall in the gross domestic product (GDP) of Ukraine in the first quarter of 2021 compared with the same period in 2020 accelerated to 2% from 0.5% in the fourth quarter of 2020, the State Statistics Service said.
The National Bank of Ukraine (NBU) plans to achieve an increase in the volume of net bank loans to business entities and individuals in relation to GDP at the level of 22% in 2024, which is 8.1 percentage points more than as of 2020 (13.9%).
The Ministry of Economy of Ukraine worsened expectations of real GDP growth in the updated macro forecast from 4.6% to 4.1% in 2021, from 4.3% to 3.8% in 2022, ex-Minister Ihor Petrashko said.
The deficit of Ukraine’s foreign trade in goods in January-March 2021 expanded by 1.4% compared to January-March 2020, to $1.315 billion from $1.296 billion.
Consumer prices in Ukraine at the end of April 2021 year-over-year slowed down from 8.5% to 8.4% at the end of March.
The National Bank of Ukraine (NBU) plans to achieve an increase in the volume of net bank loans to business entities and individuals in relation to GDP at the level of 22% in 2024, which is 8.1 percentage points more than as of 2020 (13.9%).
The balances on the government’s foreign currency Single Treasury Account (STA) as of May 5, 2021 amounted to $1.6 billion, head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn said.
The total public debt of Ukraine in April 2021 increased by 1.29% in U.S. dollars to $91.33 billion and by 0.8% in hryvnias, to UAH 2.534 trillion, according to data on the website of the Ministry of Finance.
Prices in the Ukrainian industry in April 2021 grew by 1.2%, while in March – by 1.6%, in February – by 7.8%, in January – by 5.2%.
Industrial production in Ukraine in April 2021 increased by 13% compared to April 2020, while in March the growth was 2.1%, in February and January – a fall of 4.6% and 4%, respectively.
The retail trade turnover of Ukraine in April 2021 compared to the same month in 2020 in comparable prices increased 34.3%, while in March it grew by 13.1%.
On Tuesday, June 15, President of Ukraine Volodymyr Zelensky and Prime Minister Denys Shmyhal will take part in the “Ukraine 30. Economy without oligarchs” All-Ukrainian Forum, which will be held in Kyiv on June 14 to June 16.
According to the forum’s program, the opening of the Ukraine 30. Economy without oligarchs All-Ukrainian Forum is scheduled for Monday, June 14, with the participation of Prime Minister Shmyhal at 10:30.
On Tuesday, June 15, President Volodymyr Zelensky will speak at 10:30, and Prime Minister Shmyhal will speak at 10:40.
On Wednesday, June 16, the third day of the forum will be opened by Head of the State Property Fund Dmytro Sennychenko.
