Forecast: Agricultural Products and Livestock Gross Value Added in Spain

The Gross Value Added (GVA) of Agricultural Products and Livestock in Spain has experienced significant fluctuations over the last decade. The period from 2013 to 2013 saw a notable rise, despite some negative variations in 2014 and 2019. Years like 2015, 2016, and 2018 stood out for higher percentage increases, with 2015 being particularly strong. Subsequent years showed more moderate growth, with occasional declines like in 2020 influenced by external factors such as the global pandemic. The data for 2023 indicates the GVA stood at 32.19 Billion Euros, demonstrating a slight year-on-year increase of 1.94%.

Looking forward, the forecasted data from 2024 to 2028 indicates a steady upwards trend with an average annual growth rate (CAGR) of 1.4%. This implies a cumulative growth of 7.22% over the five-year period, suggesting moderate yet consistent improvement in the sector.

Future trends to watch for include the impact of climate change on agricultural yields, advances in farming technology, and evolving trade policies within the European Union. Monitoring these elements will be crucial for anticipating further risks or opportunities within the sector.