Forecast: Import of Fertilisers Containing Nitrogen and Phosphorus to Spain

The import of fertilizers containing nitrogen and phosphorus to Spain has shown considerable fluctuations over the past decade. Starting from a low point in 2013, significant growth was observed in 2014, followed by a notable drop in 2017. The subsequent years saw alternating periods of growth and decline, with a modest increase of 0.9% in 2023 where the volume stood at 32.999 million kilograms.

For the years 2022 and 2023, year-on-year variations were 11.4% and 0.9% respectively, indicating a slight stabilization in the import volumes. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 stood at 0.32%, suggesting minimal average annual growth in this period.

Looking ahead from 2024, the forecast indicates a gradual increase, culminating in an expected volume of 34.419 million kilograms by 2028. The projected 5-year CAGR is 0.67%, with an overall forecast growth rate of 3.4% over this period, pointing to steady but slow growth in the upcoming years.

Future trends to watch for include potential changes in agricultural practices, regulatory shifts, and economic factors that may influence fertilizer demand. Additionally, advancements in fertilizer technology and sustainability initiatives could also play a significant role in shaping the import landscape.