In 2024, the forestry industry made significant progress, contributing a record UAH 23.7 billion in net revenues to the state budget. This result is a strong proof of the effectiveness of the reforms implemented in the industry in recent years. The strong performance is the result of efforts to optimize production processes and improve the quality of forest products.
The net profit of the forestry industry amounted to UAH 2.5 billion with a profitability of 10.5%, which is significantly higher than before the reforms, when the profitability was only 1.5%. This growth was due to changes in management approaches and the introduction of innovative technologies in production processes.
The industry has also made significant progress in terms of tax revenues. Taxes paid to budgets of various levels amounted to UAH 9.3 billion, making the forestry industry one of the top 3 taxpaying industries. This became possible due to increased business transparency and efficient use of forest resources.
It is important to note that tax revenues from the forestry industry have become one of the best indicators of taxes paid in the country. This emphasizes the importance of the industry in the overall economic development of the country and confirms the success of forestry reform.
The transfer of 1.9 million hectares of self-forested areas to the forestry sector is a significant step towards increasing the harvesting of wood for processing. This will expand production capacity, increase production volumes, and strengthen export potential. At the same time, such changes will require additional efforts to maintain ecological balance and sustainable use of natural resources.
The forestry industry continues to strive to implement reformed methods to increase efficiency and financial returns. Viktor Smal, head of the State Agency of Forest Resources, noted the success in achieving the goals and announced plans for future improvements. In the future, it is planned not only to increase production volumes, but also to introduce new sustainability standards that take into account environmental aspects.
All these achievements were made possible by a complete reform of the forestry sector. Updating the management system, introducing innovations and improving the skills of employees have created favorable conditions for the development of the industry. Striving for new heights and sustainable development remain priorities for the forestry industry in Ukraine.
