From 2013 to 2018, there was no reported production of precious metals in Austria. However, since 2019, there has been a significant upward trend in production. By 2023, the output reached 146,130 kilograms, reflecting a consistent year-on-year growth rate, with a notable increase of 35.28% in 2020 and a 16.76% increase in 2023. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was an impressive 36.8%.
Looking ahead, the forecasted data suggest that the production will continue to grow, reaching 247,890 kilograms by 2028. The predicted 5-year CAGR is 8.23%, indicating a forecasted growth rate of 48.53% over this period.
Future trends to watch for:
- Technological advancements in mining and extraction processes that could boost production efficiency.
- Environmental regulations and their impact on production practices.
- Global economic factors influencing the demand and price of precious metals.
- Geopolitical stability and its effects on mining operations.