Forecast: Import of Parts of Agricultural Machinery to Saudi Arabia

The import of parts of agricultural machinery to Saudi Arabia has shown significant fluctuations from 2013 to 2023. Starting at 992.92 thousand kilograms in 2013, it saw a steep decline of 55.65% in 2014, followed by a more gradual decline until 2016. A notable rebound occurred in 2017 with an increase of 42.51%, but the overall trend remained downward. As of 2023, the import volume stood at 313.82 thousand kilograms, reflecting a 4.36% decrease from the previous year. Over the last five years, the average annual decline (CAGR) has been 3.41%.

Looking forward, from 2024 onwards, the forecast indicates a continued decline in imports, with an average annual decrease (CAGR) of 4.32%. By 2028, the import volume is expected to decrease by approximately 19.81% compared to 2023.

Future trends to watch for include:

• Changes in Saudi Arabia's agricultural policies which could impact machinery part imports.
• Technological advancements in agricultural machinery that may reduce the need for imports.
• Global supply chain dynamics and their effect on the availability and cost of machinery parts.