Based on the given data, bauxite production in Saudi Arabia is forecasted to grow steadily from 2024 to 2028, following an upward trend from 5.18 million metric tons in 2024 to 6.07 million metric tons in 2028. This forecast represents a consistent year-on-year increase. In 2023, actual production stood at 4.95 million metric tons, marking notable growth over this period.
Year-on-year variations show a steady increase:- From 2023 to 2024: approximately 4.65%- From 2024 to 2025: approximately 4.44%- From 2025 to 2026: approximately 4.26%- From 2026 to 2027: approximately 3.72%- From 2027 to 2028: approximately 3.76%
The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is around 4.22%, suggesting a robust upward trend in production over the five-year forecast period.
Future trends to watch for include technological advancements in mining operations, regulatory policies impacting mining activities, and global demand for bauxite, particularly from the aluminum industry. Special attention should be given to infrastructure developments and their potential to enhance productivity.