The employment in the aquaculture sector in Malaysia experienced a notable decline from 2013 to 2017, with the number of people employed falling from 26.8 thousand units to 17.77 thousand units. This represents an approximate 34% decline over five years, indicated by a negative CAGR of -9.63% in 2017. Post-2017, the sector showed signs of recovery with slight fluctuations. The number of people employed rose marginally to 19.99 thousand units by 2023. The recent trends suggest a stabilization in employment levels, with a CAGR of 0.01% forecasted through to 2028.
Key observations:
- The employment figure declined sharply until 2017, but recovery has been observed from 2018 onwards.
- From 2013 to 2017, employment in the sector witnessed consistent year-on-year reductions.
- Between 2018 and 2023, the sector showed a fluctuating yet stabilizing trend in employment levels.
- Stabilization is expected between 2023 and 2028, with constant forecasted employment figures of around 20 thousand units from 2025 onwards.
Future trends to watch for:- Automation and technological advancements that may affect labor requirements.- Sustainable practices and regulatory changes that may influence employment.- Market demands and international trade policies impacting the sector's labor force.
