The overall trend of olive oil import volume in Belgium from 2014 to 2023 shows stability despite some fluctuations. The import volume experienced a significant spike in 2016 but fell in 2017. It has consistently remained at 22.0 thousand metric tons from 2018 to 2023.
Year-on-year variation is relatively low, showing a stable import pattern. The Compound Annual Growth Rate (CAGR) over the last five years is 0%, reflecting a consistent import volume. Forecasts for 2024 and beyond predict a minor increase with a projected CAGR of 0.89% up to 2028, suggesting a modest rise in import volume.
Future trends to watch for include:
• Potential changes in consumer preferences towards healthier oils.
• Impact of global olive oil supply fluctuations due to climate change.
• Economic factors influencing import capacity in Belgium.
