The production value of agriculture, forestry, and seafood in Austria stood at 10.49 billion Euros in 2023. From 2013 to 2023, the sector experienced fluctuating growth, hitting a low in 2020 with a significant decline of 16.13% year-on-year, then rebounding strongly in subsequent years. The period from 2018 to 2023 saw an average annual growth rate (CAGR) of 0.89%. The forecast indicates continued growth through 2028, with a projected 5-year CAGR of 0.77%, resulting in an overall growth rate of 3.92% for the period.
Moving forward, future trends to watch for include:
-Impact of climate change on production yields.
-Technological advancements in sustainable agriculture and forestry practices.
-Economic policies affecting the agricultural sector both locally and within the EU.
-Shifts in consumer preferences towards organic and locally-sourced seafood and produce.
-Potential volatility in trade relations which could impact export-oriented segments of the industry.
