The mining and quarrying sector in Turkey has seen remarkable growth over the past decade, with Gross Value Added (GVA) rising from 19.59 billion TRY in 2013 to 310.6 billion TRY in 2023. The sector exhibited substantial year-on-year variations, achieving a significant 111.56% increase in 2022, followed by a 51.75% increase in 2023. The compound annual growth rate (CAGR) over the past five years stands at an impressive 52.16%.
From 2024 onward, the industry's GVA is forecasted to continue its upward trajectory, reaching 826.26 billion TRY by 2028, driven by a forecasted five-year CAGR of 14.72%. Noteworthy trends include improvements in sustainable practices and technological innovations, which are likely to play critical roles in maintaining robust growth. Additionally, global economic conditions and resource price fluctuations will be key factors to monitor.
