The export value of Plastics and Articles Thereof from Saudi Arabia stood at $23.993 billion in 2023, showing a year-on-year increase of 3.42%. Over the last two years, from 2021 to 2023, the export values experienced a steady uptrend, with significant growth seen in figures: 18.84% in 2021 and 9.07% in 2022. The compound annual growth rate (CAGR) over the past five years from 2019 to 2023 was 2.79%, signifying moderate but consistent growth. Historically, the series has faced volatility; for example, a sharp decline in 2015 (-18.92%) followed by a series of recovery rates. Pre-2024 data marks the stabilization of growth rates.
Future trends to watch for include:
• Additional growth in export values, forecasted to continue rising, culminating at $28.071 billion by 2028. • A forecasted 5-year CAGR of 2.52%, suggesting a controlled rate of growth. • Potential impacts from global economic conditions, trade policies, and innovations in plastic manufacturing technology. • Prolonged geopolitical stability and economic policies within Saudi Arabia supporting continued export activities.
