The forecasted import of frozen fish to Norway shows a declining trend from 2024 to 2028. The import value for these years is predicted to decrease from $54.207 million in 2024 to $47.644 million by 2028. The year-on-year percentage variations indicate a consistent decline in the import values.
To provide some context, the import value in 2023 stood at $56.115 million. From 2023 to 2024, the import value decreased by approximately 3.40%. Between 2024 and 2025, the decrease is projected to be around 3.12%, and from 2025 to 2026, it is about 3.15%. The declines from 2026 to 2027 and 2027 to 2028 are forecasted at 3.20% and 3.23% respectively. Over the five-year period, the Compounded Annual Growth Rate (CAGR) is expected to be around -3.21%.
Future trends to watch for:
- Global market dynamics and trade policies impacting fisheries.
- Technological advancements in fishing and supply chain management.
- Environmental regulations and sustainability practices.
- Consumer preferences towards fresh versus frozen fish.
- Currency fluctuation impacts on trade economics.
