The motor gasoline refinery output in Turkey experienced a steady growth from 2013 to 2023, with notable fluctuations year-on-year. In 2023, the output stood at 5.59 million tonnes of oil equivalent. Key variations include significant reductions in 2014 and 2020 and substantial growth in 2015 and 2019. The most recent two-year analysis shows a trend of recovery with 5.42% and 5.34% growth in the past two years respectively. The five-year CAGR leading up to 2023 is 2.27%.
Looking ahead, forecasted data suggests continued growth, projecting a 5-year CAGR of 0.69% from 2024 to 2028, with an overall growth rate of 3.51%. Expectations are for increased stability and gradual growth.
Future trends to watch include technological advancements in refining processes, changes in domestic and international demand, potential regulatory changes, and economic factors affecting oil prices. Monitoring these elements will be crucial in understanding and forecasting future outputs accurately.
