Production in Turkey's non-ferrous metal ores mining sector has shown a significant upward trajectory over the past decade. From a value of 7.07 Billion New Turkish Liras in 2013, the sector reached 70.45 Billion New Turkish Liras in 2023. This remarkable growth is characterized by substantial year-on-year variations, most notably a sharp increase in 2017 by 50.72% and a continued strong performance with 55.73% in 2020. Although the growth rate decelerated somewhat thereafter, the sector still achieved an impressive 20.33% increase in 2023.
Looking at the last two years, the sector exhibited a robust average annual growth rate (CAGR) of 35.38%. The predicted trend suggests continued growth, albeit at a more moderate pace, projected at a CAGR of 9.29% from 2024 to 2028.
Future trends to watch for include:
- Technological advancements in mining operations
- Fluctuations in global metal prices and demand
- Regulatory changes and environmental standards
- Investment in sustainable mining practices
