The fisheries production volume in South Africa showed fluctuation from 2013 to 2023. The production peaked in 2016 at 630.18 Thousand Metric Tons, followed by a significant drop in 2017. Another notable increase occurred in 2020 at 612.77 Thousand Metric Tons.
Year-on-year variations over the past two years indicate a downward trend:
- 2022: -1.72%
- 2023: -1.84%
The 5-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 was -3.5%, indicating an average annual decline in production during this period.
Forecast data from 2024 to 2028 suggests a continued decline:
- Forecast 5-year CAGR: -1.53%
- Forecast 5-year Growth Rate: -7.4%
Future trends to watch for include the impact of regulatory changes, climate variability, and advancements in sustainable fishing practices which can influence production levels. Moreover, shifts in market demand and international trade policies may play a critical role in shaping the fisheries sector's future trajectory in South Africa.
