From 2013 to 2016, Italy’s mining and quarrying production value saw a significant decline, dropping from 47.95 billion euros to 36.05 billion euros. An even sharper decrease occurred in 2017 to a value of 6.75 billion euros, marking an 81.27% drop from the previous year. Though there were minor fluctuations over the next few years, by 2023, the production value stood at just 6.34 billion euros, reflecting a persistent downward trend.
Year-on-year variations show minor recoveries in 2018 and 2021 but the general trend remained negative. The Compound Annual Growth Rate (CAGR) over the last five years signifies an average yearly decrease of 5.69%.
Future forecasts indicate a continued decline, with values expected to decrease to 4.0 billion euros by 2028, displaying a forecasted 5-year CAGR of -7.37%.
Future trends to watch for include technological advancements in mining, government regulations, and global demand for materials, which could significantly impact Italy's production value.
