Ukrainian agricultural sector in 2025 demonstrated a significant increase in financial indicators in nominal terms. At the same time, in-depth macroeconomic analysis indicates a gap between the growth of companies' profits and the real dynamics of added value production in the industry.

This is stated in the report of the Kyiv School of Economics (KSE). Analysts note that the nominal growth of financial results does not reflect the real state of production processes in the agricultural sector.

The total financial result before tax of more than 35 thousand agricultural companies reached UAH 223 billion, which is 21% more compared to the previous year. The largest market players showed even higher dynamics: companies belonging to the MHP, Kernel and Goodvalley groups increased their total profit before tax by 40% - to UAH 16 billion.

Experts note that such dynamics indicate the relative resilience of large agricultural holdings to logistical challenges and their ability to control costs more effectively due to the scale of operations. Large companies have more tools to optimize production and transportation costs, which strengthens their competitive position.

At the same time, the industry recorded record tax revenues. The total amount of direct taxes paid by agricultural producers, including income tax, minimum tax liability, single and land taxes, amounted to UAH 13.3 billion - this is 34.6% more than in 2024. The approximate level of direct tax burden is estimated at approximately 6%.

At the same time, macroeconomic indicators demonstrate the opposite trend. The nominal gross value added of the agricultural sector increased by 21%, however, in constant prices in 2021, a decrease of 6.2% was recorded in annual terms. This indicates a decrease in the real amount of value created in the industry.

KSE analysts emphasize that such a discrepancy means: the growth of financial results in 2025 was largely ensured by inflationary factors, and not by a real increase in production. Thus, the formal growth of profits does not fully reflect the actual dynamics of the development of the agricultural sector.