Forecast: Production of Iron and Steel in Finland

Based on the data provided, the production of iron and steel in Finland stood at 6.15 billion Euros in 2023. The year-on-year growth for 2023 was 0.54%, reflecting a period of relative stability following a significant drop in 2020 due to external factors. Over the last five years, the compound annual growth rate (CAGR) has averaged 0.54%, indicating modest but steady growth.

Looking forward, the forecast for the period from 2024 to 2028 suggests a continuation of this trend with an expected CAGR of 0.43%, leading to an overall growth rate of 2.15% by 2028. This indicates a stable yet conservative growth projection for the industry.

Future trends to watch for include:

- Technological advancements in steel production, which could improve efficiency and output.

- Fluctuations in global demand for iron and steel, especially driven by construction and automotive sectors.

- Environmental regulations and their impact on production practices.

- Economic policies and trade agreements influencing the export market.