The import of machines for public works and building to Saudi Arabia has experienced significant fluctuations over the past decade. In 2013, the imports stood at 6.609 million kilograms, increasing to a peak of 7.7381 million kilograms in 2015. This was followed by a sharp decline in 2016, with imports dropping by 80.85%. Although there was a partial recovery in 2018, the overall trend from 2014 to 2023 has been towards a decline, with a year-on-year variation of -4.45% in 2023, representing a volume of 2.2167 million kilograms. The Compound Annual Growth Rate (CAGR) over the last five years has been -6.67%.
Looking ahead, the forecasted data indicates a continued decrease in imports, with a forecasted 5-year CAGR of -4.42% by 2028. The volume is expected to taper down to 1.6774 million kilograms by 2028.
Future trends to watch for include:
- Impact of Saudi Arabia's fiscal policy changes and budget allocations towards public infrastructure projects.
- Potential shifts in global trade policies and their impact on Saudi Arabia’s import strategies.
- Technological advancements and domestic production capabilities within the construction machinery sector.
