The fisheries production in the Philippines is projected to show a continuous upward trend from 2024 to 2028, starting at 310.03 billion PHP in 2024 and reaching 337.18 billion PHP by 2028. This indicates a steady annual increase in value year-on-year. In 2023, the actual value stood at 303 billion PHP.
Key figures:
- 2024: 310.03 billion PHP
- 2025: 317.02 billion PHP
- 2026: 323.88 billion PHP
- 2027: 330.6 billion PHP
- 2028: 337.18 billion PHP
Trends and Variations:
- From 2023 to 2024: 2.32% increase
- From 2024 to 2025: 2.25% increase
- From 2025 to 2026: 2.17% increase
- From 2026 to 2027: 2.08% increase
- From 2027 to 2028: 1.99% increase
- Compound Annual Growth Rate (CAGR) over 2023 to 2028: 2.16%
Future trends to watch for include the impact of sustainable fishing practices, advancements in aquaculture, and government policies aimed at boosting production. Climate change and environmental factors may also play a significant role in the production trends in the coming years.
