The Mining and Quarrying Gross Value Added in Austria has experienced significant fluctuation over the past decade. From 2013 to 2023, the sector saw notable downturns, such as in 2015 and 2016, with values dropping by 18.1% and 15.62%, respectively. However, there were also significant recoveries, such as the 50.41% increase in 2022. As of 2023, the value stands at 1.56 billion Euros.
Analyzing recent trends, there was a minor decline of 0.95% in 2023 compared to 2022. Over the last two years, the sector has seen a drastic increase followed by a slight dip. The Compound Annual Growth Rate (CAGR) for the past five years is 6.17%.
Looking ahead, the forecasted five-year CAGR is 1.43%, indicating a more stable but slower growth. By 2028, the value is expected to reach 1.71 billion Euros, suggesting a total growth rate of 7.38% from 2023. Key trends to watch include technological advancements in mining, regulatory changes, and shifts in global commodity demands. These factors will likely influence the growth trajectory of Austria's mining and quarrying sector.
