The forecast for the import of iron ores and concentrates to Turkey shows a consistent upward trend from 2024 to 2028, starting at 1.1122 billion USD in 2024 and reaching 1.1959 billion USD by 2028. In 2023, the imports were recorded at 1.096 billion USD. The year-on-year variation indicates a steady increase: approximately 1.8% from 2024 to 2025, 1.9% from 2025 to 2026, 1.8% from 2026 to 2027, and 1.7% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is about 1.8%.
Future trends to watch for include potential fluctuations in global iron ore prices, changes in Turkey's domestic production capabilities, and shifts in demand from key industries such as construction and manufacturing. Additionally, geopolitical developments and trade policies could impact import volumes and values. Monitoring these factors will be crucial for anticipating and understanding future trends in Turkey's iron ore import market.
