The import of Furniture, Lighting, Signs, and Prefabricated Buildings to Saudi Arabia saw significant fluctuations between 2013 and 2023. Starting at $2.36 billion in 2013, it peaked at $2.76 billion in 2015 before a notable decline to $2.12 billion by 2018. Despite a dip to $1.91 billion in 2020 due to the pandemic, it rebounded to $2.45 billion by 2023, showing a stable recovery with a CAGR of 2.93% over the last five years.
Noteworthy year-on-year variations include a high of 19.35% in 2013 and a low of -20.2% in 2016. The forecast suggests a gradual increase, reaching $2.70 billion by 2028, marking a 1.59% average growth rate annually over the next five years.
Future trends to watch for:
- The impact of ongoing economic diversification initiatives in Saudi Arabia.
- Potential supply chain disruptions and inflationary pressures affecting import costs.
- Technological advancements and evolving consumer preferences towards smart living spaces.