The forecasted output for the UK's agriculture, forestry, and seafood sectors shows a steady upward trend from 2024 to 2028, with values increasing from £37.7 billion to £40.46 billion. This progression indicates a year-on-year growth rate of approximately 1.9%-2.1%.
As of 2023, the output was £36.99 billion, highlighting an annual compound growth rate (CAGR) of approximately 1.8% over the recent five-year forecasted period. The noticeable, consistent increase suggests robust demand and industry resilience.
Future trends to watch:
- Technological advancements affecting productivity and efficiency in these sectors.
- Impact of climate change and sustainability initiatives on agricultural practices and output.
- Trade policies post-Brexit potentially influencing export and import dynamics.