The turnover in the Mining and Quarrying sector in Turkey has shown a significant upward trend over the past decade. From 1.99 billion New Turkish Liras in 2013, it has surged to 35.6 billion New Turkish Liras by 2023. Over the last two years, the turnover jumped by an average of 78.81%, with a remarkable 50.76% increase in 2023 alone. The Compound Annual Growth Rate (CAGR) over the past five years has been an impressive 56.03%, indicating rapid sector growth. From 2024 onwards, the forecast indicates a continued robust expansion, with the sector expected to reach 93.94 billion New Turkish Liras by 2028, representing a CAGR of 14.61% for the forecasted period.
Future trends to watch for include the impact of digital transformation, environmental regulations, and global commodity price fluctuations, which could significantly influence the sector's growth trajectory. The increasing demand for minerals and materials vital for technology and green energy initiatives might also drive further expansion and investment in this sector.
