Spain's metal ores trade balance for 2024 is forecasted to stand at 11.64 million metric tons, down from the 2023 actual value. This decline appears to continue steadily with year-on-year variations showing a reduction of approximately 2.2% by 2025, 2.2% by 2026, 2.3% by 2027, and 2.3% by 2028, reflecting a consistent downward trend. Over the five-year period from 2024 to 2028, this yields a cumulative annual growth rate (CAGR) indicative of a gradual reduction in trade balance volume.
Future Trends to Watch For:
- Global economic conditions and how they influence the demand and supply of metal ores.
- Technological advancements in ore extraction and processing that may affect productivity and trade volumes.
- Environmental policies and regulations that could impact the mining industry and trade balance.
- Fluctuations in international trade policies and tariffs affecting import and export dynamics.