Ukraine: The share of the agro-industrial complex in the structure of Ukraine’s GDP

According to the Prime Minister of Ukraine, the share of agribusiness in the GDP structure of the country should be about 20-25% after the introduction of new technologies and increase in processing capacities and the degree of processing.

Such information was provided by IA «UNIAN».

Now, the share of the agro-industrial complex in the structure of the Ukrainian economy is 12-13%, but taking into account processing the share is 16-17%. The Prime Minister said that the rate of 20-25% is quite real and that for today it is our goal.

According to his statement, the introduction of innovations in the development of the agro-industrial complex will give an opportunity to increase its share in the structure of the country’s economy to the desired level.

It should be recalled that the export of wheat during the current marketing year could amount to slightly more than 16 million tons, which is 8.2% lower than during the previous season.

The share of the agricultural sector in the structure of Ukraine’s GDP is important for the country’s economy. The Prime Minister of Ukraine notes that the agro-industrial complex occupies one of the main places in the economy of Ukraine. In his opinion, the agricultural sector is an important source of export earnings for the country and contributes to maintaining the foreign trade balance.

However, the Prime Minister also noted that it is necessary to continue the modernization of the agricultural sector in order to increase its efficiency and competitiveness in the world market. In particular, this can be achieved by increasing investment in infrastructure and science in the field of agriculture, as well as the introduction of innovative technologies in production.

Thus, an increase in the share of the agricultural sector in the structure of Ukraine’s GDP can contribute to the development of the country’s economy and maintain the stability of the foreign trade balance. However, for this it is necessary to continue the modernization of the agricultural sector and provide it with a sufficient level of investment and support from the state.