The export value of cashew nuts from the US to Canada has experienced significant fluctuations over the past decade. From a peak of $921,000 in 2013, there were dramatic drops and occasional rebounds, leading to a value of $172,000 in 2023. The overall trend from 2013 to 2018 was downward, followed by inconsistent recovery attempts between 2019 and 2023.
- In 2023, the export value stood at $172,000, with zero growth compared to the previous year (2022).
- In 2022, the export value grew by 15.44% from 2021.
- Over the last five years from 2018 to 2023, the compound annual growth rate (CAGR) was 29.62%.
- Forecasts suggest a decline in the export value, with an annual CAGR of -23.39% from 2024 to 2028, indicating a projected reduction to $38,000 by 2028.
Future trends to watch for include potential impacts from global market conditions, trade policies, and consumer demand shifts. Monitoring these factors will be crucial for anticipating export performance and adjusting strategies accordingly.
