A record year for the forestry industry: what generated UAH 23.7 billion in revenue?
14 March 2025 18:30
Despite the difficult situation due to hostilities, temporary occupation of part of the territory and mining of forest lands, Ukraine’s forestry industry achieved a record net income of UAH 23.7 billion in 2024. This figure demonstrates the sustainability of the sector, the effectiveness of reforms and adaptation to new conditions. This was reported by "Komersant Ukrainian" with reference to the State Agency of Forest Resources of Ukraine.
The main achievements of the forest industry in 2024
1. Record revenue growth and market stability. In 2024, 12.7 million cubic meters of wood were sold, which is 0.8 million cubic meters more than in the previous year. Net revenue from sales increased by UAH 2.5 billion, exceeding previous records.
The average price of 1 m³ of timber increased by only 5% to UAH 1,810, which helped to maintain price stability in the domestic market.
Demand for timber grew in the domestic market, which contributed to the development of the Ukrainian woodworking and construction industries.
2. Implementation of digital technologies and fight against corruption. Last year was a turning point in terms of digitalization of the forestry industry. The electronic logging ticket and e-certificate of origin became the largest digital tools in Ukraine, saving businesses UAH 150 million.
The electronic timber accounting system has also been improved, and a mechanism for photo recording of all harvesting processes has been introduced.
These changes helped minimize illegal logging and make the market as transparent as possible.
3. Reforestation and ecosystem conservation. Despite the challenging situation, the reforestation program was completed by 100%. We have restored 35.2 thousand hectares of forests, including 6.1 thousand hectares of new plantations.
In addition, 238.3 million tree seedlings were planted, and 175.4 million seedlings were prepared for future plantings.
For the first time in Ukraine, seedlings with a closed root system were used on a large scale, which significantly increases their survival and growth rate.
4. Support for defense and economic contribution to victory. The forest industry played a key role in supporting the Armed Forces of Ukraine.
We transferred 215 thousand cubic meters of timber products to the defense sector, including 148 thousand cubic meters free of charge. In 2024, the military also received 1169 pieces of equipment, including 47 vehicles.
Ukrainian woodworking companies produced engineering fortifications, dugout structures, and wooden elements for the frontline.
Impact on the economy and development prospects
The successful development of the forestry industry in 2024 ensured stable revenues to the Ukrainian budget and contributed to the development of the woodworking sector and exports.
Digitalization programs are expected to be expanded in 2025, further reducing corruption risks and improving the efficiency of enterprises.
Ukraine plans to increase exports of finished wood products instead of raw materials, which will help to increase added value and attract foreign investment.
The government continues to implement green initiatives aimed at preserving forests and combating climate change.
