The output of refined petroleum products and coke in Australia has shown significant fluctuations and a general declining trend from 2013 to 2023. In 2023, the output stood at 14.86 billion Australian dollars, reflecting a 2.51% decrease compared to the previous year. The last two years exhibited a nearly negligible variation of 0.2% and -2.51%, signaling stagnation. Over the past five years, the compound annual growth rate (CAGR) was -8.77%, reinforcing the downward trend observed since 2013.
Looking ahead, the forecast indicates a continued decline, with a projected output of 9.9 billion Australian dollars by 2028. The 5-year CAGR is expected to be -6.49%, while the five-year growth rate could see an accumulative -28.52% decrease. Key trends to watch for include geopolitical shifts impacting global oil prices, advancements in energy alternatives, and potential regulatory changes favoring sustainable energy sources over traditional fossil fuels.
