Based on the provided data, the import value of electric filament or discharge lamps to Saudi Arabia was $93.441 million in 2023. Forecasted data shows a marginal decline over the next five years, with the import value projected to decrease to $88.604 million by 2028. The year-on-year variation from 2024 to 2028 shows a steady decline of approximately 1% annually.
Year-on-year variations:
- 2024 to 2025: -1.07%
- 2025 to 2026: -1.05%
- 2026 to 2027: -1.05%
- 2027 to 2028: -1.04%
Looking at the compounded annual growth rate (CAGR), the average annual variation from 2023 to 2028 is approximately -1.05%.
Future Trends to Watch:
Moving forward, it will be essential to monitor advancements in energy-efficient lighting technologies, government regulations favoring eco-friendly solutions, and potential shifts towards renewable energy sources. These factors could impact the demand and import volumes of traditional electric filament or discharge lamps. Additionally, economic factors such as changes in GDP growth or trade policies could further influence import trends.
