The transport services exports in Saudi Arabia experienced fluctuating trends from 2013 to 2023. A peak was observed in 2016 and 2021, with notable dips in 2015, 2019, and a significant drop in 2022. The year-on-year variation for 2022 was -48.13%, highlighting a sharp decline, while 2023 rebounded slightly with an 8.8% increase. The compound annual growth rate (CAGR) over the last five years stands at -7.32%, suggesting an overall downward trend.
Future trends to watch for include:
- Continued stabilization and modest growth in transport services exports, with a forecasted CAGR of -0.29% from 2023 to 2028.
- Potential impacts of global economic conditions and regional trade developments on transport services demand.
- Government policies and investments aimed at diversifying the economy and enhancing export capabilities.
- Technological advancements in transportation and logistics which could influence growth rates.
