The import data for Digital Monolithic Integrated Circuits to Saudi Arabia from 2013 to 2023 illustrates significant volatility. The volume stood at 173.24 thousand kilograms in 2023, revealing an overall decline across the decade. The year 2023 noted a year-on-year decrease of 6.74%, with a stark drop of 53.77% in 2017 and a significant rise of 44.54% in 2016. The average variation per year over the last five years shows a declining trend with a CAGR of -5.15%, indicating an ongoing reduction in import volumes.
Looking ahead to forecasted data from 2024 to 2028, the import volume is expected to continue its downward trend, with a 5-year forecasted CAGR of -7.53% and an overall decline of 32.41% in the next five years.
Future trends to watch for:
- Technological advancements in local production capabilities.
- Changes in demand dynamics due to innovations in electronics and related sectors.
- Economic policies affecting trade and import regulations.
- Potential shifts towards alternative products or solutions influencing the market demand.
