The import of copper tableware and kitchenware to Saudi Arabia stood at $9.1752 million in 2023. Historical data indicate significant volatility over the past decade, with notable peaks in 2014 and troughs in 2016 and 2020. The year-on-year variation witnessed a 1% decrease in 2023 compared to 2022, while the overall Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was -0.87%. Projections for the years 2024 to 2028 show a gradual decline, predicting the import value to decrease to $8.6921 million by 2028. This represents a forecasted 5-year CAGR of -0.86%.
Key points:
- 2023 value: $9.1752 million
- YoY variation (2022 to 2023): -1%
- 5-year CAGR (2019-2023): -0.87%
- Forecasted 5-year CAGR (2024-2028): -0.86%
- Forecasted value in 2028: $8.6921 million
Future trends to watch for:
- Economic policies affecting imports and tariffs.
- Changes in consumer preferences towards alternative materials.
- The impact of global copper prices on product costs.
- Environmental regulations and sustainability initiatives influencing market dynamics.
