The production volumes of fishing and aquaculture in Belgium have experienced significant fluctuations since 2013. Starting high at 121.6 million euros, there was an overall declining trend observed, particularly noticeable with a sharp drop in 2020 to 92.71 million euros due to likely impacts of the global pandemic. By 2023, the volume had modestly recuperated to 104.6 million euros, down 2.15% from the previous year.
Recent trends indicated a 2.95% rise in 2022 followed by a slight decline in 2023. The past five-year Compound Annual Growth Rate (CAGR) leading up to 2023 stands at -0.77%, indicating a gradual slowdown. From 2024 onwards, a further decline is forecasted, with a five-year CAGR of -1.93%, translating to about a 9.26% decrease by 2028.
Future trends to watch for:
- Technological advancements in aquaculture and fishing processes
- Environmental regulations and sustainability measures
- Global market fluctuations and export demands
- Impact of climate change on marine life and fishing yields
