Spain's basic metals exports to Saudi Arabia saw significant fluctuations between 2013 and 2023, starting at $146.92 million in 2013 and reaching $190.48 million in 2023. The highest year-on-year increase was in 2015 (61.31%), while the severest decline was in 2016 (-33.48%). The compound annual growth rate (CAGR) for the period 2013-2023 is mixed, with notable drops in 2016 and 2020 but steady recovery afterward. In 2023, the value stood at $190.48 million, representing a 1.06% increase from 2022.
Looking ahead from 2024 to 2028, the forecast depicts a positive but modest growth trajectory, with an estimated 0.84% CAGR resulting in a 4.26% overall growth rate over five years. Key factors to observe include economic conditions in Saudi Arabia, global metal prices, and Spain's export policies.
