From 2013 to 2023, Vietnam saw a significant increase in its orange production, growing from 531.96 thousand metric tons to 1110.6 thousand metric tons. The year-on-year variation data indicates notable fluctuations, including a high of 20.63% in 2017 and a low of -6.3% in 2020. Despite these fluctuations, the Compound Annual Growth Rate (CAGR) over the last five years leading up to 2023 is 5.37%. Forecasts suggest that by 2028, production will reach 1293.6 thousand metric tons, marking a 5-year CAGR of 2.4%. The forecasted five-year growth rate from 2023 to 2028 is 12.58%, indicating a steady but slower increase compared to previous years.
Future trends to watch for:
- Potential impacts of climate change on production levels.
- Technological advancements in agricultural practices and their effect on yield efficiency.
- Market demand shifts both domestically and internationally, especially in major importing countries.
- Government policies related to agriculture and their implications on the orange production sector.
