From 2013 to 2023, Turkey's volume of inward and outward sea freight transport experienced fluctuations. Starting from 384.9 million metric tons in 2013, it saw minor declines in 2014 before climbing steadily to a peak of 484.1 in 2019. A sharp drop occurred in 2020 to 276.98 due to global disruptions, but recovery was swift, reaching 530.9 in 2023. Notably, the Compound Annual Growth Rate (CAGR) over the 5 years leading to 2023 was 2.9%, despite significant variation year-on-year.
Key Variations:
- 2013-2014: -0.47%
- 2014-2015: 8.59%
- 2015-2016: 3.41%
- 2016-2017: 9.53%
- 2017-2018: -2.33%
- 2018-2019: 5.19%
- 2019-2020: -42.79%
- 2020-2021: 73.86%
- 2021-2022: 7.78%
- 2022-2023: 2.29%
Future trends predict a steady rise, reaching 591.3 million metric tons by 2028, reflecting a forecasted 5-year CAGR of 1.75%. Key areas to watch include advancements in shipping technology, changes in trade policies, and potential global economic shifts that could impact freight volumes.
