The exports of primary solid biofuels in the UK stood at 5.01 thousand terajoules in 2023. Over the past decade, there has been significant variability, with the highest value observed in 2015 at 8.74 thousand terajoules, and the lowest in 2019 at 4.48 thousand terajoules. From 2022 to 2023, there was a slight increase of 0.34%. Looking at the five-year Compound Annual Growth Rate (CAGR) leading up to 2023, it exhibits a decreasing trend of -2.44% on average each year.
Key Trends Observed:
- There was a notable rise in 2015 (+20.66%) followed by a sharp decline in 2016 (-27.52%).
- From 2019 to 2021, slight fluctuations were noted with increases and decreases balancing each other out.
- Between 2022 and 2023, the growth was relatively stable with minimal variation.
Future Trends to Watch For:
- The forecasted 5-year CAGR from 2024 to 2028 is 0.26%, indicating a period of slight growth.
- Annual growth rates for biofuel exports are expected to be moderate but positive, reaching 5.1 thousand terajoules by 2028.
- Policy changes, technological advancements, and international market dynamics could significantly influence future trends in biofuel exports.
