The value added of agricultural products and livestock in Belgium has shown considerable fluctuations over the past decade. Starting from €2.57 billion in 2013, the value experienced a downward trend until 2014 with a 4.11% decline. In 2015, a notable rebound of 10.53% was seen, followed by a 6.15% dip in 2016. The subsequent years were marked by periods of growth and decline, with 2017 witnessing a 10.71% increase. However, 2018 experienced a 6.49% decrease. The most substantial growth was recorded in 2019 with a 16.13% rise. By 2023, the value stood at €3.0 billion, up by 1.19% from the previous year. Over the last five years, the Compound Annual Growth Rate (CAGR) was 2.55%.
From 2024 onwards, forecasts suggest a steady growth trajectory. The year 2024 is anticipated to show a slight increase to €3.03 billion. By 2028, it is expected to reach €3.17 billion, reflecting a forecasted 5-year CAGR of 0.88% and a cumulative 5-year growth rate of 4.47%.
Future trends to watch for include:
- Technological advancements in agriculture potentially increasing efficiency and output.
- Market demands shifting towards more sustainable and organic farming practices.
- Impacts of climate change on agricultural yields.
- Changes in trade policies affecting the agricultural sector.