The Fisheries Support Estimate in Canada shows a declining trend from 2024 to 2028, starting at $629.42 trillion USD in 2024 and decreasing to $607.64 trillion USD by 2028. This represents a year-on-year average decline of approximately 0.9% over these years.

For a longer-term view, if we consider the compound annual growth rate (CAGR) from 2023 to 2028, the decline averages to around 0.7% per year.

Future trends to watch for:

Potential impacts of climate change on fisheries and the subsequent need for policy adjustments.
Technological advancements in sustainable fishing practices.
Changes in global trade dynamics affecting Canada’s fishing industry.
Increased consumer demand for sustainably sourced seafood influencing industry practices.