Agriculture proved the most profitable branch of economy in 2017

In the year 2017, agriculture, forestry and fishing businesses achieved 22.7% profitability against 8.9% in the Ukrainian economy as a whole. This was informed by Yuri Lupenko, Director of the National Scientific Center Institute of Agrarian Economics, Academician of the National Academy of Sciences of Ukraine.

The agricultural enterprises received almost UAH 79.1 billion of net profit, which is the highest index among all types of economic activity and almost by UAH 25 billion exceeds the profit of the manufacturing industry.

"Agriculture provided 43.5% of the net profit of all Ukrainian enterprises. At the same time, 86.1% of enterprises of agriculture, forestry and fisheries received income, compared to 72.5% in the economy as a whole," the scientist noted.

According to him, last year profits of agricultural enterprises decreased by UAH 11.6 billion against 2016, and the share of unprofitable enterprises grew from 12.3% to 13.9%.

Previously it was reported that sunflower production in the year 2017 was the most profitable in agricultural enterprises and amounted to 41.3%. Whereas the profitability of grain production was only 25% in 2017.