Forecast: Turnover in Iron Ore Mining Sector in Turkey

The turnover in the iron ore mining sector in Turkey has demonstrated significant growth since 2013, escalating from 1.46 billion New Turkish Liras to 6.68 billion in 2023. Over the last two years, growth rates were 18.3% in 2022 and 15.32% in 2023 respectively. The cumulative average growth rate (CAGR) for the five years leading up to 2023 was an impressive 25.23%, showing robust expansion. Looking forward, forecasts predict continued growth with the sector anticipated to reach 10.98 billion New Turkish Liras by 2028, supported by a 5-year forecasted CAGR of 7.76% and total growth of 45.33%.

Future trends to watch for:

  • Technological advancements improving mining efficiency
  • Global iron ore price fluctuations impacting turnover
  • Government policies and environmental regulations
  • Infrastructure investments and market demand

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