Factor analysis of sectoral economic growth in agriculture

Economic growth as a result of the economic system depends on factors identified by factor analysis, which allows them to assess and predict their impact on economic growth. As a rule, deterministic or stochastic factor analysis is used. Classifications of economic growth factors are presented in a number of publications, both domestic and foreign authors. Our study of the impact of factors on economic growth in the publications of domestic scientists showed that the impact of factors was evaluated at different levels - from international comparisons to the analysis of individual sub-sectors of agricultural production. The selected indicators for factor analysis in most studies were statistically significant, which confirmed their impact on economic growth in agriculture. We have supplemented the economic growth factors with a group of industry factors. Our calculations showed that the decrease in economic efficiency in 2012 and 2018 was accompanied by an increase in production and inefficient use of factors, i.e. economic growth was inefficient and extensive. 2016-2017 is characterized by a decline. Thus, the factor analysis showed that the growth of gross value added in the industry is most influenced by the growth of employment and the growth of acreage.