Maize import volume in Saudi Arabia stood at 3.47 million metric tons in 2023, showing a year-on-year increase of 1.37%. The five-year compound annual growth rate (CAGR) was 2.61%. From 2014 to 2023, the market experienced various fluctuations, such as a sharp increase in 2016 (39.71%) and a notable decrease in 2018 (-18.57%).
Key data trends:
- Maize import volume showed consistent growth from 2016 to 2017, with a significant jump of 39.71% in 2016.
- Despite a notable dip in 2018, the CAGR remained positive over a five-year period.
- 2020 saw a slight decrease, followed by steady growth up to 2023.
Future trends to watch for:
- Forecasted data indicates a continuous increase in maize import volume, with a projected 5-year growth rate of 5.49% and a CAGR of 1.07% from 2024 to 2028.
- Monitoring fluctuations in global maize production and geopolitical events that influence trade policies will be critical.
