In 2023, the exports of ICT services in Saudi Arabia stood at 1808.0 million USD. The year-on-year growth from 2022 to 2023 reflects a 5.8% increase. Over the last two years, the average annual variation was approximately 11.26%. The compound annual growth rate (CAGR) over the past five years was 9.3%, indicating robust growth after a significant leap in 2018.
Future trends to watch for:
- Continued growth is forecasted, with exports expected to reach 2293.0 million USD by 2028.
- The next five years are projected to have a CAGR of 3.76%, suggesting a stable yet moderate growth trajectory.
- Given the historical fluctuations, monitoring global ICT demand and Saudi Arabia's strategic initiatives in the tech sector will be crucial.
