The data shows that Thailand's pelagic fish production has experienced fluctuations over the past decade, starting from 587.41 thousand metric tons in 2014 and standing at 555.48 thousand metric tons in 2023, down by 0.22% from the previous year. Over the last five years, the CAGR indicates an average annual decline of 0.32%.
Key year-on-year variations include significant decreases in 2015 (-11.95%), followed by a recovery in 2016 (6.75%). There was a consistent production trend through 2017 and 2018 with a slight decline resuming in 2019 (-0.68%). The years 2020 and 2021 saw further decreases before a notable increase in 2022 (+5.03%).
Forecast data from 2024 to 2028 indicate a continuous, albeit slight, annual decline with an overall predicted reduction of 0.17% CAGR. By 2028, production is expected to be approximately 547.44 thousand metric tons.
Future Trends to Watch For:
- External factors such as climate change and overfishing impacting fish stocks.
- Technological advancements in sustainable fishing practices.
- Government regulations and policies aimed at protecting marine environments.
- Potential shifts in global fish demand and trading patterns.
- Investments in aquaculture as a supplement to wild-catch fisheries.
