Forecast: Production in Manufacture of Basic Iron and Steel Sector in Turkey

From 2013 to 2023, the production in the manufacture of basic iron and steel sector in Turkey witnessed significant fluctuations. The sector saw a substantial growth spike in 2017 with a year-on-year increase of 53.44%, followed by notable growth in 2018. Despite a minor decline in 2019, the sector rebounded with a steady increase reaching 266.84 Billion New Turkish Liras in 2023. The last five years showed a CAGR of 6.13%, indicating moderate growth. Forecasts predict a steady increase till 2028, with an anticipated CAGR of 3.08% over the next five years.

Future trends to watch for include technological advancements in production processes, shifts in domestic and international demand, and potential governmental policies affecting the iron and steel industry. Furthermore, global economic conditions and trade dynamics will play a crucial role in shaping the sector's growth trajectory.