The import of cocoa and cocoa preparations to Saudi Arabia exhibited fluctuating trends between 2013 and 2023. Starting at $568.64 million in 2013, imports reached $636.08 million by 2023. Notable changes include a high growth in 2016 with a 9.45% year-on-year increase, and noticeable declines in 2017 and 2018 at -13.62% and -1.02% respectively. The most recent years displayed moderate growth, with a 2.51% increase in 2022 and a 2.4% rise in 2023. The compound annual growth rate (CAGR) improved from -0.84% in 2021 to 3.31% in 2023.
Key future trends to watch include the forecast 5-year CAGR of 1.82% and an overall growth rate of 9.43% by 2028. Continued market monitoring for supply chain fluctuations, international trade policies, and global cocoa price changes is recommended to accurately gauge future import trends.
