Forecast: Production in Iron Ore Mining Sector in Spain

The iron ore mining sector in Spain has shown fluctuation in production values from 2014 to 2023. According to available data, the sector saw a notable increase in 2019 but then experienced a dip in 2020 before rebounding strongly in subsequent years. By 2023, production reached 13.6 million euros, with a 16.24% year-on-year increase from 2022. Over the last five years leading up to 2023, the sector exhibited a robust CAGR of 14.87%, reflecting strong growth momentum.

Looking ahead, forecasted data from 2024 to 2028 suggests a more moderate but steady annual growth rate with a five-year CAGR of 2.74%. Future trends to watch for include:

  • Technological advancements and their effect on production efficiency.
  • Global market demands and their influence on local production.
  • Regulatory changes and environmental policies impacting the mining sector.
  • Economic conditions influencing investment in the iron ore industry.

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