In 2023, the total value of agricultural production at farm gate in Canada stood at 44.95 billion euros. The forecasted values for subsequent years indicate a steady growth rate: 45.73 billion euros in 2024, 46.55 billion euros in 2025, 47.36 billion euros in 2026, 48.16 billion euros in 2027, and 48.96 billion euros in 2028. This shows a consistent upward trend.
Year-on-year variations exhibit:
- 1.74% from 2024 to 2025
- 1.75% from 2025 to 2026
- 1.69% from 2026 to 2027
- 1.64% from 2027 to 2028
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 1.73%, indicating a stable growth trajectory in agricultural production value over five years.
Future trends to watch for include the impact of technological advancements in agriculture, government policies affecting the sector, climate change, and market demand shifts, which could significantly influence the forecasted values and overall market dynamics.
