The production value in the refined petroleum products sector in Belgium has shown a significant decline over the past decade. From a value of 53.41 billion Euros in 2013, it dropped to 27.3 billion Euros in 2023. The year-on-year variation over recent years demonstrates this volatility, with a pronounced dip in 2020 at -42.82% and a slight recovery by 2023 with a modest increase of 1.41%. The compound annual growth rate (CAGR) over the last five years reflects a negative trend of -7.7%.

Looking ahead, the sector is expected to continue this downward trajectory with a forecasted five-year CAGR of -7.65%, resulting in a projected production value of 16.92 billion Euros by 2028, indicating an overall decrease of 32.83% from 2023 to 2028.

Future trends to watch for include:

Impact of global energy transitions and policies aimed at reducing fossil fuel dependence.
Technological advancements in alternative energy sources and their adoption rates.
Fluctuations in global oil prices and geopolitical developments.