The import of silver in unwrought forms to Turkey has shown fluctuations over the past decade. From 2013 to 2023, the value trended downward initially but started showing signs of recovery after 2020. Notably, the year-on-year variation for 2023 stood at an increase of 2.25%, reaching a value of 156.77 million USD. The compound annual growth rate (CAGR) for the period leading up to 2023 is 3.31%, indicating a moderate annual growth.
Future trends indicate a stable growth trajectory. Forecasted data from 2024 to 2028 suggests the value will improve steadily. The forecasted 5-year CAGR is 1.7%, with an overall growth rate of 8.8% anticipated by 2028. Monitoring geopolitical factors, currency fluctuations, and technological advancements in silver production will be crucial for understanding future market dynamics.
