Analysis of Australia's fisheries exports from 2013 to 2023 reveals a general upward trend despite fluctuations in specific years. In 2023, the value of fisheries exports stood at $1110 million USD. The series between 2020 and 2023 shows a recovery from the dip in 2020, with a year-on-year increase of 14.94% in 2021, 8.7% in 2022, and 6.01% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years stands at 1.55%, indicating moderate but steady growth.
Future trends to watch for:
- Continued growth in exports, forecasted with an average annual increase of 1.2% over the next five years.
- A forecasted 6.12% increase in total exports by 2028, highlighting potential expansion opportunities in the fisheries market.
- Potential factors influencing trends: changes in international demand, advancements in sustainable fishing practices, and governmental policies on fisheries management.