The data for the non-ferrous metal trade balance in Spain displays a slight upward trend from 2024 to 2028. Starting at 5.2 million metric tons in 2024, the trade balance gradually increases each year, reaching 5.23 million metric tons by 2028. Given that this growth is consistent, one can observe the stability and relatively minimal year-on-year variation.
Considering the period from 2023 to 2024:
- The year-on-year variation is negligible, indicating that the sector is stable with marginal increments.
Looking at the past two years (2023 to 2024), the year-on-year growth rate remains low but steady, reflecting a mature and stable market. The CAGR over the forecasted five-year period highlights a stable, very slightly positive growth rate each year, maintaining an almost flat trend.
Future trends to watch for:
- Potential shifts in global demand and supply dynamics for non-ferrous metals.
- Technological advancements and sustainability initiatives impacting production and trade.
- Economic factors within Spain and the broader Eurozone that could affect trade policies and market stability.