Between 2013 and 2023, the refinery output of motor gasoline (excluding the biofuel portion) in Belgium showed significant fluctuations. The value stood at 50.74 Thousand Gigawatthours in 2023, representing a 4.46% year-on-year increase. Despite irregular annual changes, the Compound Annual Growth Rate (CAGR) over the last five years stabilized at 0.68%. From 2020 onwards, the market began to recover from a low of 38.28 Thousand Gigawatthours, reflecting a 26.36% decrease that year but later improved consistently.
Future trends to watch for include:
- A forecasted gradual decline with a CAGR of -0.84% over the next five years.- Environmental regulations influencing production and a potential shift towards alternative fuels.- Market adjustments due to fluctuating global oil prices and demand post-pandemic.
