The primary copper refinery production in Turkey displayed significant volatility between 2013 and 2023. In 2023, the production stood at 122.73 thousand metric tons. Notably, the period from 2016 to 2017 saw an impressive rebound with a 85.65% year-on-year increase. The last two years showed more stability with year-on-year changes of 3.01% in 2022 and 2.86% in 2023. Over the past five years, the compound annual growth rate (CAGR) was 1.08%, indicating moderate growth.
Future trends to watch for:
- Increasing production yields with a forecasted CAGR of 2.13% from 2024 to 2028.
- Potential impacts of technological advancements and environmental regulations on production efficiencies and capacities.
- Global copper demand fluctuations driven by green energy initiatives and infrastructure projects, which could influence Turkey's refinery output.