The pelagic fish production in South Africa, expressed in thousand metric tons, showed significant fluctuations over the past decade. After peaking at 420.11 in 2016, production experienced notable declines, especially an 18.51% drop in 2017. By 2023, the production stood at 322.96, reflecting a year-on-year decrease of 1.42%. The Compound Annual Growth Rate (CAGR) over the past five years recorded an average decrease of 1.16% annually.
Future projections indicate a continued decrease in production, with a forecasted value of 297.67 thousand metric tons by 2028. The forecasted 5-year CAGR is -1.23%, leading to a total forecasted decline of 6% over this period.
Future trends to watch for:
- Environmental impacts on marine ecosystems.
- Regulatory changes in the fishing industry.
- Technological advancements in sustainable fishing practices.
- Global market demand and its influence on the local industry.
