In 2023, Austria imported 30.18 thousand kilograms of crude cottonseed oil. Over the past two years, the year-on-year variations show a steady increase with 4.94% in 2023 and 5.3% in 2022. Analyzing a broader period, the compound annual growth rate (CAGR) over the last five years stands at 5.78%, indicating a consistent upward trend.
Key Data:
- Year-on-year increase in 2023: 4.94%
- Five-year CAGR leading up to 2023: 5.78%
- Forecasted five-year CAGR from 2024 to 2028: 3.15%
- Forecasted growth rate from 2024 to 2028: 16.76%
Future trends to watch for include potential shifts in global cotton production, trade policies, and advancements in oil extraction technology which could influence Austria's import volumes. Monitoring these factors will be crucial for understanding the sustainability of the current growth trajectory.
