From 2013 to 2023, the value-added of agricultural products and livestock in Spain experienced notable fluctuations, beginning at €23.31 billion in 2013 and rising to €33.51 billion in 2023. The growth trajectory depicts significant year-on-year variability, with notable increases in 2015 (12.85%) and 2016 (13.36%), balanced by occasional declines like in 2014 (-2.97%) and 2019 (-6.64%). Over the last five years leading up to 2023, the compound annual growth rate (CAGR) averaged 1.71%, highlighting a resilient yet moderating growth trend.
Future trends to watch for include:
- Projected steady growth with a 5-year CAGR of 1.97% from 2024 to 2028.
- Expected increase in value-added to €37.93 billion by 2028, representing a total growth of 10.22% over the next five years.
- Innovations in agricultural technology and sustainable farming practices potentially driving efficiency and productivity gains.
- Impact of global market conditions and policy changes on agricultural exports and pricing.