The data on soya sauce exports from Luxembourg to Belgium shows a noticeable upward trend over the years. Starting from 4.0 thousand US dollars in 2013, the exports have gradually increased, reaching 16.0 thousand US dollars in 2023. The year-on-year variations have seen significant fluctuations, with substantial growth in certain years (e.g., 133.33% in 2017) and decreases in others (e.g., -14.29% in 2018). Over the last two years, from 2022 to 2023, the exports grew by 6.67%, and over the last five years, the compound annual growth rate (CAGR) stood at 5.92%.
For the forecasted period through 2028, the exports are expected to continue their upward trajectory, reaching 22.0 thousand US dollars. The forecasted 5-year CAGR is estimated at 5.29%, indicating steady growth with a forecasted 29.41% total increase over the next five years.
Future trends to watch for include potential impacts of trade regulations, market demand fluctuations, and shifts in consumer preferences towards soya sauce in Belgium. Additionally, monitoring the competitive landscape and any innovations in product offerings or distribution channels from Luxembourg to Belgium could provide valuable insights.
