The output of agriculture, forestry, and seafood in Belgium has exhibited a fluctuating trend over the past decade, starting from 10.15 billion euros in 2013 and reaching 11.25 billion euros in 2023. Between 2013 and 2016, there were minor ups and downs, with the value decreasing notably in 2014 and 2016, but notably bouncing back in 2017 with a significant 4.8% increase. This trend continued upwards with steady growth from 2019 onwards.
Over the last two years, the output experienced moderate year-on-year increases of 1.34% in 2022 and 1.31% in 2023. The compound annual growth rate (CAGR) over the last five years was 1.97%.
Looking ahead, the forecasted data suggests a continual positive trend, with the output expected to rise incrementally to 11.96 billion euros by 2028. The projected average annual growth rate (CAGR) over the next five years is 0.97%, leading to an overall growth rate of 4.96% by 2028.
Future trends to watch for include the impact of technological advancements in agriculture, potential changes in EU agricultural policies, and climate change influences on agricultural productivity and seafood yields. Monitoring these factors will help in anticipating shifts in the output trends for Belgium's agriculture, forestry, and seafood sectors.
