Profit of manufacturing companies in Bashkiria fell by 50% in 2020

The profits of manufacturing enterprises in Bashkiria in 2020 fell by half, Bashkortostan Statistics Agency informs. Their revenues amounted to about 116 billion rubles - 50% to the level of 2019.

Financial results deteriorated significantly in 2020 in the field of transportation and storage (20.5%), in processing enterprises (27.8%), in construction (35.1%). Hotels and catering establishments, the service sector, and real estate agents ended the year with a loss.

A positive trend has developed in agriculture, forestry, fishing, and fish farming in 2020. The net profit (net of losses) in the agro-industrial complex amounted to 3.8 billion rubles - 8 times more revenue in 2019. Another leader in terms of profit is housing and utility services (water supply and sewerage, waste collection and disposal): 291.4 million rubles (183.5%).

The loss of unprofitable companies more than doubled and amounted to 53.4 billion rubles (in 2019 - 21.9 billion rubles).

The share of unprofitable organizations in the region increased to 27% against 25.4% in 2019. On average, in Russia in 2020 this figure was 29.4% (in 2019 - 26.5%).