Analyzing the forecasted import of frozen fish to Indonesia from 2024 to 2028, we note an upward trend in the value of imports which is expected to grow from $185.38 million in 2024 to $207.18 million in 2028. The year-on-year growth rates depict incremental rises with a steady annual increase. Comparatively, the year 2023 recorded actual import values, providing a baseline for these projections.
Year-on-year variations:
- From 2024 to 2025: an increase of 3.03%
- From 2025 to 2026: an increase of 2.88%
- From 2026 to 2027: an increase of 2.74%
- From 2027 to 2028: an increase of 2.61%
CAGR over the last 5 years (2024-2028) indicates an average annual growth rate of approximately 2.81%, showcasing steady progress in import values.
Future trends to watch for:
- Shifts in global seafood demand and supply chain disruptions could impact import volumes.
- Changes in trade policies and tariffs between Indonesia and major fish-exporting countries.
- Sustainability practices and regulatory changes in the fishing industry that could affect prices.