The output of agricultural products and livestock in Spain stood at 62.14 billion euros in 2023. Observing the year-on-year variation, a generally positive trend can be seen with fluctuations. Significant years include 2016 with an 8.81% rise and 2021 with an impressive 7.99% increase. However, there were minor declines in 2014 and 2019.
Over the last two years, growth has persisted at lower but steady rates, with 0.7% in 2022 and 2.72% in 2023. The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 was 2.05%, indicating moderate growth. Recent forecasts for 2028 suggest a slower annual growth rate with a forecasted five-year CAGR of 1.92%, equating to an overall 9.97% growth by 2028.
Future trends to watch for include potential impacts of climate change on agricultural yields, adoption of sustainable farming practices, and technological advances in agriculture and livestock management. Monitoring European Union policies and global market fluctuations could also provide insights into future output dynamics.
