The import of fresh or chilled fish fillet or meat to Australia has exhibited fluctuating trends over the past decade. In 2023, the value of imports stood at $34.445 million, demonstrating a steady rise from the previous year by 3.23%. The year-on-year variation reveals significant fluctuations, with notable declines in 2014, 2015, 2018, and 2020, but considerable recovery and growth in other years like 2017 and 2021. Over the last two years, the imports have experienced moderate growth.
The five-year CAGR leading up to 2023 was 4.97%, indicating a positive trend overall. Looking ahead, the forecasted data suggests a continued increase in imports, with a 2028 forecasted value of $39.986 million and a five-year CAGR of 2.4%. This translates to a forecasted growth rate of 12.59% over this period.
Future trends to watch for include:
- Potential impacts of economic and trade policies on import volumes due to changes in tariffs or trade agreements.
- Shifts in consumer preferences towards domestic versus imported seafood products.
- Environmental and sustainability concerns influencing fishing practices and supply chain dynamics, potentially affecting import volumes.
