In 2023, Belgium's export of copper and articles thereof stood at 3.4361 billion US dollars. The year-on-year variation for 2023 was minimal, at just 0.86%. Over the past two years, the export values saw nominal growth of 0.89% in 2022 and 0.86% in 2023. The CAGR over the last five years showed a slight decrease of -1.59%, indicating a consistent but slow decline.
Looking ahead, forecasts from 2024 to 2028 suggest a modest growth outlook. The export value is expected to steadily increase, reaching 3.5892 billion US dollars by 2028. The forecasted 5-year CAGR is at 0.69%, projecting a stable yet slow growth trajectory.
Trends to watch for in the future include:
- Global demand for copper, driven by infrastructure developments and technological advancements.
- Potential shifts in trade policies and tariffs that could impact export volumes.
- Technological innovations in copper extraction and production processes that might affect supply.
- Environmental regulations that could influence copper production and export capabilities in Belgium.