The import of petroleum bitumen to Turkey was valued at $142.32 million in 2023. Based on the forecasted data, it will increase to $149.01 million in 2024, representing a year-on-year growth of 4.71%. The forecast for 2025 shows a value of $154.79 million, an increase of 3.87% from 2024. By 2026, the value is expected to reach $160.45 million, which indicates a 3.66% growth from the previous year. The trend continues with the value projected at $166 million in 2027, marking a 3.46% increase year-on-year. By 2028, the value is forecasted to be $171.44 million, growing by 3.28% from 2027. Over the five-year forecast period from 2023 to 2028, the compound annual growth rate (CAGR) is approximately 3.8%.
Future trends to watch for include potential fluctuations in global crude oil prices, changes in international trade policies, and the development of new infrastructure projects in Turkey that could influence the demand for petroleum bitumen imports. Additionally, any advancements in alternative materials and changes in environmental regulations could impact the import volumes and values. Monitoring these factors will be key in understanding the future dynamics of petroleum bitumen imports to Turkey.
