In 2023, the contribution of the aquaculture industry to Malaysia's GDP stood at 0.19%. The forecasted data for the years 2024 to 2028 indicates that the contribution is expected to consistently remain at 0.2% each year. This suggests a slight increase from 2023, highlighting stability in the industry's economic contribution.
Despite the lack of growth in the percentage contribution year-on-year, the aquaculture industry’s consistent performance can be seen as stability amidst potential economic variability. Over the next five years, the compound annual growth rate (CAGR) is anticipated to be minimal, reflecting the industry's steady presence in the Malaysian economy.
Future trends to watch for:
- Technological advancements in aquaculture practices
- Government policies and support for sustainable aquaculture
- Market demand fluctuations influenced by local and export markets
- Environmental impacts and climate change affecting aquaculture habitats
