The import of rubber clothing and accessories to Saudi Arabia has shown substantial fluctuations over the past decade. Starting with a significant rise in 2013 (35.38%), the import values fell sharply in 2014 (-24.9%). Between 2014 and 2017, the growth remained relatively flat with minor increments and a slight positive trend. A notable surge occurred in 2018 (66.18%), followed by a mixed trend with a reduction in 2019 (-8.59%) and 2020 (-14.11%), but rebounding in 2021 (24.46%). The recent years of 2022 and 2023 presented moderate growth rates of 3.13% and 2.98% respectively.
The 5-year Compound Annual Growth Rate (CAGR) indicates an average annual growth of 2.21% from 2023 to 2028, showcasing steady progression. The forecast suggests a continuous year-on-year rise, with an 11.56% aggregate growth anticipated over the next five years, reflecting a steady but gradual increase in imports.
The value of imports in 2023 stood at $7.1231 million USD.
Future trends to watch for include evolving trade policies, fluctuating global rubber prices, and improvements in local production capabilities. Additionally, environmental considerations and trends towards sustainable materials may impact future imports.
