Analysis of the import of mineral fuels, oils, and distillation products to India reveals significant fluctuations over the past decade. Standing at $176.97 billion in 2023, the series exhibits varying trends. From 2013 to 2015, there was a steep decline, notably with a 40.86% drop in 2015. The years following show a mix of recovery and minor dips, particularly from 2016 to 2019, with a downturn in global demand reflected in the -6.12% variation for 2019.
Post-2020 indicates a stabilization phase, with minor growth and increases noted in subsequent years, peaking marginally at a 2.6% increase in 2023. The 2023 year-on-year variation stands at 2.6%, and the CAGR over the last five years reaches 0.95%. Forecasts predict a steady upward trajectory with a 5-year CAGR of 1.96%, anticipating a cumulated growth rate of 10.18% by 2028.
Future trends to watch for include fluctuating global oil prices, shifts in India's energy policies towards renewable sources, and geopolitical factors that could influence import dynamics.
