The Non-Metallic Mineral Product Manufacturing value added in Australia has shown a mixed trend from 2013 to 2023. It stood at AUD 6.91 billion in 2023, with fluctuations in year-on-year growth. The most significant volatility was observed with a 17.66% increase in 2022 following three consecutive years of decline (2019-2021). The average annual growth rate (CAGR) over the last five years (2018-2023) was -0.16%, indicating a slight contraction overall. Future forecasts suggest a modest growth trajectory with a 5-year CAGR of 1.07% and a total growth rate of 5.45% from 2024 to 2028.
Future trends to watch for:
- Potential impact of global economic conditions on non-metallic mineral product demand.
- Technological advancements in manufacturing processes.
- Policy changes related to environmental regulations and sustainability practices.
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