In 2023, the value of fishery products export in the Philippines stood at 46.72 billion Philippine Pesos, constant 2018. Forecast data predicts a steady year-on-year growth ranging from 2.44% to 2.12% through 2024 to 2028. Specifically, the projected growths are: 2.44% in 2024, 2.44% in 2025, 2.32% in 2026, 2.23% in 2027, and 2.12% in 2028. Over the 5-year forecast period, the compounded annual growth rate (CAGR) is anticipated to be approximately 2.31%.
Future trends to watch for include:
• Demand shifts in global seafood markets, potentially driven by sustainable practices.
• Technological advancements in aquaculture that may impact production costs and efficiency.
• Trade policies affecting export dynamics, particularly with key trading partners.
