Forecast: Production in Mining and Quarrying by Size Class in Turkey

From 2013 to 2023, Turkey's mining and quarrying production demonstrated significant growth, reaching 100.86 Billion New Turkish Liras in 2023. Major increases occurred from 2020, with particularly notable jumps in 2021 (66.68%) and 2022 (39.22%). Year-on-year variation between 2022 to 2023 was 27.99%. The compound annual growth rate (CAGR) over the last 5 years leading up to 2023 was 33.13%.

Forecast analysis indicates continued growth, with future projections predicting production will rise to 207.88 Billion New Turkish Liras by 2028. The forecasted 5-year CAGR is 11.12%, suggesting a robust growth trend, though at a decelerated pace compared to previous years.

Future trends to watch for include:

  • Potential regulatory changes impacting the mining sector
  • Adoption of new mining technologies and their influence on production efficiencies
  • Global commodity price fluctuations affecting production volumes and values

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