The import of paintings, drawings, and pastels executed by hand to Turkey experienced significant fluctuations from 2013 to 2023. In 2023, the value stood at 17.562 million USD. The past decade has seen highs in 2013 with strong growth, followed by dips and recoveries, indicating market volatility. Specifically, between 2021 and 2023, the year-on-year variation was 11.93% and 0.72%, showing a stabilization trend. Over the last five years, the CAGR averaged 3.49%, reflecting gradual overall growth since the sharp drop in 2020.
Future trends to watch for:
- Steady growth forecast: The five-year CAGR for 2024-2028 is projected at 0.61%.
- Market stabilization: With a forecasted value of 18.115 million USD by 2028, expect moderate, consistent growth.
- Economic impact: Economic conditions, global art market trends, and Turkey's trade policies will significantly influence future imports.