The forecast for agricultural raw materials exports in Canada from 2024 to 2028 shows a gradual decline in the share of goods exports. In 2023, the value stood at 3.69. By 2024, it is expected to drop to 3.63, a year-on-year decrease of 1.6%. This declining trend continues through the successive years: 1.7% drop in 2025 (3.57), 1.7% in 2026 (3.51), 1.7% in 2027 (3.45), and 1.7% in 2028 (3.39).
The compound annual growth rate (CAGR) for the period 2024-2028 shows an average annual decrease of around 1.7%. This consistent decline suggests structural shifts in the agricultural sector or global market dynamics impacting Canada's exports.
Future trends to watch for:
- Potential impact of climate change on crop yields and productivity.
- Changes in global demand for Canadian agricultural raw materials.
- Technological advancements in agriculture and their effects on production efficiency.
- Trade policies and international agreements affecting export markets.
