Forecast: Import of Nitrogenous Mineral or Chemical Fertilizers to Turkey

From 2013 to 2023, the import value of nitrogenous mineral or chemical fertilizers to Turkey exhibited a general downward trend with some fluctuations. The value fell from 1.0363 billion USD in 2013 to 0.82253 billion USD in 2023. Significant year-on-year variations include a 25.43% drop in 2015 and a notable recovery of 22.29% in 2017. The past five years showed more stability, with minor increases averaging a 1.68% CAGR from 2018 to 2023.

For the forecast period from 2024 to 2028, the import value is projected to grow modestly, with a 5-year CAGR of 0.72%, indicating a relatively stable market with slow growth. Factors producing these trends include agricultural demand, global market prices, and Turkey's domestic production capabilities.

Future trends to watch for include technological advancements in fertilizer production, shifts in agricultural policies, and global economic conditions that could impact import volumes and values. Close monitoring of these factors will be essential for predicting future market behaviors.