In 2023, the Agriculture, Hunting, Forestry, and Fishing sector's value added stood at a value of 0.60. From 2024 to 2028, a steady decline is forecasted, with values decreasing incrementally from 0.58 to 0.54. This continuous downward trend reflects a challenge in maintaining value within these industries.
The year-on-year percentage decrease remains consistent at approximately 1.72% annually. The compound annual growth rate (CAGR) over the next five years is forecasted to be negative, underlining a gradual contraction in the sector’s value over time.
Future trends to monitor include:
- Technological advancements and their adoption in agriculture.
- Environmental and sustainability regulations impacting hunting and forestry practices.
- Global market demands affecting the UK fishing industry.
- Potential government intervention or subsidies aimed at reversing the decreasing trend.
