The output of agricultural products and livestock in Belgium has demonstrated an overall positive trend from 2013 to 2023. Starting at 9.6 billion euros in 2013, it dipped marginally in subsequent years but experienced steady growth afterward. The year 2023 saw an output of 10.63 billion euros. The year-on-year variations exhibit some fluctuations, with declines in 2014, 2016, and 2021 but notable increases in 2017, 2019, and 2020, highlighting a generally resilient sector. Over the past 5 years, the compounded annual growth rate (CAGR) stood at 1.89%, indicating steady growth.
Looking ahead, forecasted data suggests continued growth, albeit at a mild acceleration rate. By 2028, the output is expected to reach 11.28 billion euros, translating to a forecasted CAGR of 0.94% and a total growth rate of 4.77% over the next five years. Future trends to watch for include the impact of technological advancements in agriculture, climate change effects, EU agricultural policies, and shifts in global demand for livestock and agricultural products. Monitoring these factors will be crucial for stakeholders to adapt and leverage opportunities in the sector.