Agribusiness is one of the most important sectors of economy, it employs over one-third of the world's population. Agribusiness development is a necessary trigger for a broader, sustainable economic development for most countries as it stimulates self-sustaining growth in two principal ways - through rising productivity it increases the incomes of farmers, and it releases labor from subsistence farming that can be employed in manufacturing or service activities.
Russia has more than 200,000 farm holdings and small agricultural businesses, which account for up to 50% of Russia’s agricultural production.
2017-2018 Agribusiness development
In 2018, production growth across the sector is expected to slow down to around 100-101%.
In 2017, the federal budget expenditures for agribusiness support totaled of RUB 248.4 billion.
Source: Government of Russia; Ministry of Agriculture of Russia; the Bank information.