In 2023, the import of flower seeds for sowing to South Africa stood at a value of 1.0638 million US dollars. Over the last two years leading up to 2023, the year-on-year variation showed a minimal decrease, with a 0.59% drop from 2022 to 2023. The average variation per year over the last five years, reflected in the Compound Annual Growth Rate (CAGR), was -1%, indicating a small but notable decline.
Historically, from 2013 to 2023, the import values have seen fluctuations, prominently a steep decline of 36.64% in 2014 and several smaller variations in subsequent years. The overall trend has been relatively stable with minor decreases in recent years.
The forecast for the period from 2024 to 2028 anticipates a continued gradual decline. The average annual decline, as predicted by the forecasted five-year CAGR, is -0.49%, with an overall forecasted growth rate over these five years being -2.44%.
Future trends to watch for include potential impacts of global economic shifts, advancements in domestic flower seed production capabilities, and changes in agricultural policies that could affect import dependency. Additionally, climate changes and their effects on domestic agriculture could also influence import volumes and values.
