Fish farming production in Ghana has demonstrated significant growth from 2013 to 2023, with a notable increase from 32.51 Thousand Metric Tons in 2013 to 90.7 Thousand Metric Tons in 2023. Production underwent periods of robust expansion, occasional declines, and a recent moderate increase. The production values for 2024 and beyond are forecasted to continue this upwards trend, reaching 119.22 Thousand Metric Tons in 2028. The short-term annual growth rate (2022-2023) is 6.93%, while the long-term five-year CAGR up to 2023 is a more modest 3.43%.
Over the last two years, we witnessed a drop of 5.1% in 2022 followed by a recovery and 6.93% growth in 2023. The five-year CAGR illustrates a stabilizing trend with the forecasted five-year CAGR at 4.32% from 2024 to 2028, suggesting more stable and consistent growth ahead.
Future trends to watch for include:
- The impact of technological advancements in aquaculture to enhance productivity.
- Policy changes and government initiatives aimed at supporting the aquaculture sector.
- Environmental and climate change factors influencing fish farming outputs.
- Global market demand shifts and their effect on local fish farming production.
