THE MAIN APPROACHES TO ASSESSING THE ECONOMIC EFFICIENCY OF AGRARIAN ENTERPRISES
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 80)Publication Date: 2023-12-31
Authors : Lesiuk Vladyslav;
Page : 129-136
Keywords : economic efficiency; agrarian enterprises; crop production; livestock production;
Abstract
The article examines the main approaches to assessing the economic efficiency of agrarian enterprises. Atten‑ tion is given to the analysis of different agricultural industry methodologies. The specific indicators for assessing the economic efficiency of crop and livestock production are highlighted. Specific indicators include yields, production costs, labour costs, and feed costs. The general indicators for assessing the economic efficiency of agrarian enterprises' production are highlighted. General indicators of economic efficiency assessment are common for crop and livestock production. General indicators include gross output, full cost, revenue, selling price, profit, and profitability. These indicators make it possible to assess the overall eco‑ nomic efficiency of agrarian enterprises. The full cost of the main types of products produced by agrarian enterprises in Ukraine is analysed. The full cost of production of all types of products increased between 2016 and 2020. The largest increase in the full cost of production occurred for maize for grain and sunflower seeds. The profit from the sale of the main types of products pro‑ duced by agrarian enterprises in Ukraine is analysed. It is found that some products generate high profits while others generate losses. The most unprofitable products include sugar beet, cattle meat, poultry meat, and poultry eggs. The profitability of the main types of products produced by agrarian enterprises in Ukraine is analysed. The largest decrease in profitability occurred in 2018 and 2019. This was due to internal and external factors that negatively affected the agricultural industry. Ways to increase the economic efficiency of agrarian enterprises in Ukraine have been identified: entering new markets, digitalization, improving the quality of products, updating the product range, improving the qualifications of employees, using alternative energy sources, obtaining low-interest loans, using marketing strategies, optimising logistics, using artificial intelligence, etc. These measures will increase the competitiveness and profitability of agrarian enterprises.
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