The fisheries production volume in Malaysia stood at 1.7872 million metric tons in 2023, marking a slight year-on-year growth of 0.76%. Historical data reflects a notable declining trend from 2013 to 2023, with the production volume contracting from 2.0233 to 1.7872 million metric tons. The compound annual growth rate (CAGR) over the last five years (2018-2023) was -0.74%, illustrating a consistent decrease in production volumes. However, forecasts for the upcoming years suggest a marginal recovery, with the CAGR projected at 0.57% over the next five years, culminating in an expected volume of 1.8523 million metric tons by 2028.
Future trends to watch for include:
- Environmental regulations and their impact on fishing practices.
- Technological advancements in aquaculture increasing productivity.
- Changes in domestic and international markets affecting demand.
- Potential climate change effects on marine ecosystems influencing fish stocks.
