Fuel oil imports to Italy demonstrated fluctuating trends over the last decade. Starting at 21.52 thousand terajoules in 2013, the imports saw significant variation, including sharp increases in 2016 and 2018 and pronounced declines in 2014 and 2019. By 2023, fuel oil imports stood at 44.9 thousand terajoules, decreasing gradually in the years thereafter based on projected data.
Year-on-year, the last two years of actual data saw a decrease of 4.49% in 2022 and 3.59% in 2023. The compounded annual growth rate (CAGR) over the past five years revealed a slightly declining trend, showing an average annual decrease of 7.88%. The forecast over the next five years (2024-2028) indicates a continued decline with a forecasted five-year CAGR of -3.19% and an overall reduction of 14.95% by 2028.
Future trends to watch for include changes in global oil prices, shifts towards renewable energy sources, and policy adjustments within Italy that could impact the demand and regulation of fuel oil imports. Monitoring these factors will be crucial for anticipating further fluctuations in the oil import market.
