Morocco's arts, entertainment, and recreation services exports to Saudi Arabia showed significant growth from 2013 to 2023, standing at 26.52 Thousand US Dollars in 2023. The highest year-on-year growth was observed in 2018 at 105.53%, with the highest volatility observed during 2013-2019. The years 2019 to 2020 recorded negative growth rates at -10.86% and -11.84%, respectively. The trend stabilized from 2021 onward with steadier year-on-year growth, peaking at 4.95% in 2023. Over the last five years, the compound annual growth rate (CAGR) was 2.04%.
Looking ahead, the forecast data from 2024 to 2028 suggests continued growth, albeit at a more modest rate. The CAGR over the next five years is anticipated to be 3.45% with an overall growth rate of 18.49% from 2024 to 2028.
Future trends to watch for include:
- The impact of new cultural policies in both Morocco and Saudi Arabia affecting the arts and entertainment sectors.
- The influence of technological adoption and digital transformation in driving exports.
- Economic factors and bilateral trade agreements that could either bolster or hinder this growth trajectory.
