The import of silver to Turkey has shown a downward trend from 2013 to 2020, with a minor recovery in the subsequent years. In 2023, the import value stood at $164.48 million, reflecting a slight year-on-year increase of 1.95%. Over the past two years, the trend has been variable, with an increase of 29.19% in 2021 and a slight decrease of 2.82% in 2022. The CAGR over the last five years has averaged 2.9%.
Future forecasts suggest a steady growth pattern with the import value expected to reach $181.41 million by 2028. The forecasted five-year CAGR is projected to be 1.49%, indicating moderate growth in silver imports. Key future trends to watch for include global economic conditions, fluctuations in silver prices, and changes in domestic demand within Turkey.
