The Gross Value Added (GVA) for the Mining and Quarrying sector in the UK is forecasted to grow steadily from 21.9 billion pounds in 2024 to 22.86 billion pounds in 2028. Comparing 2023, the last year of actual data, which stood at 21.67 billion pounds, with 2024, there is a noticeable year-on-year increase of 1.06%. Additionally, the year-on-year variations from 2025 to 2028 are as follows: 1.14% for 2025, 1.08% for 2026, 1.07% for 2027, and 1.02% for 2028. Over the last five years, the Compound Annual Growth Rate (CAGR) for the sector is approximately 1.07%, indicating a consistent upward trend.
Future trends to watch for include technological advancements, which may further enhance efficiency and production, as well as regulatory changes and their potential impacts on industry practices. Moreover, fluctuations in global commodity prices and shifts in demand for mined resources will be critical in shaping the sector's trajectory.
