In 2023, Spain exported garlic worth $92.26 million to Germany, showing a robust growth of 10.01% year-on-year. Over the past two years, from 2021 to 2023, the year-on-year variations indicate strong upward trends despite a slight decline in growth rate during 2021. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 stood at an impressive 15.13%, reflecting consistent growth.
Looking forward, the forecasted data from 2024 to 2028 suggests that the CAGR will moderate to 5.75%, estimating a total growth rate of 32.25% over these five years. This indicates continued, albeit slower, growth for Spanish garlic exports to Germany.
Future trends to watch for include potential changes in agricultural policies, shifts in consumer preferences towards organic and locally produced foods, and the impact of economic factors such as inflation on garlic prices.