The import volumes of non-electric wall clocks to Saudi Arabia have experienced a fluctuating trend. From 2013 to 2023, the volume saw a series of ups and downs, with notable decreases in several years. For instance, there were significant year-on-year declines in 2013 (-17.16%), 2014 (-14.46%), and 2018 (-16.6%). However, there were also years of recovery, like in 2017 with a growth of 9.04%. The overall average annual growth rate (CAGR) from 2018 to 2023 was -1.48%, indicating a slight downward trend. In 2023, the import volume stood at 0.96201 million kilograms.
Looking into the forecasted data from 2024 to 2028, the import volume is projected to continue its decline. By 2028, the volume is expected to drop to 0.84019 million kilograms, with a forecasted 5-year CAGR of -2.14%, pointing towards a consistent average yearly decline. The overall decline over these five years would amount to -10.27%.
Future trends to watch for include economic recovery post-COVID-19, potential shifts in consumer preferences towards digital alternatives, and changes in trade policies that could impact import volumes. Additionally, the overall economic conditions and inventory management practices in retail might also influence future import dynamics.
