The output of Agriculture and Livestock Related Service Activities in Belgium has shown a considerable upward trend over the years, starting from 9.57 billion euros in 2013 to 12.3 billion euros in 2023. During the past two years, this sector has experienced a year-on-year increase of 1.06% in 2022, and 2.36% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 4.89%, indicating steady growth.
Future trends to watch for:
- The forecast anticipates the output will continue to grow, with values reaching 13.67 billion euros by 2028.
- The projected 5-year CAGR is expected to be 1.69%, translating to an overall growth rate of 8.72% from 2024 to 2028.
- Factors such as technological advancements, sustainable farming practices, and policy changes will significantly impact this sector.