The import of handmade paintings, drawings, pastels, and collages to Turkey has experienced a volatile pattern over the past decade. In 2023, the import value stood at $18.724 million. Notably, the year-on-year variations have fluctuated significantly, with a dramatic drop in 2020 at -59.82% followed by a strong recovery in 2021 with a 125.98% increase. Over the last two years, the change was relatively flat with a 0.41% increase in 2023, indicating stabilization. The Compound Annual Growth Rate (CAGR) over the past five years stands at 3.19%. For the forecasted period up to 2028, the expected CAGR is 0.36%, suggesting a very modest growth trajectory.
Future trends to watch for:
- Impact of global economic fluctuations on luxury and art imports.
- Cultural policies and import regulations of Turkey that could affect the art market.
- Shifting consumer preferences towards indigenous artwork or digital art forms.
- Potential growth from enhanced cultural diplomacy or international art exhibitions in Turkey.