The import of metal-rolling mills and rolls in Saudi Arabia reached a value of 35.359 million USD in 2023. Historically, from 2013 to 2017, imports declined significantly, with values dropping from 104.27 million USD in 2013 to 31.663 million USD in 2017, corresponding to a compound annual growth rate (CAGR) of -21.02% during that period. This was followed by fluctuations, as seen in the year-on-year variations: a spike of 33.81% in 2018, a modest increase in 2021, and a slight decline in subsequent years leading to 2023.
The past five years show an overall decreasing trend, with a CAGR of -3.55%, indicating a consistent reduction in the import values. Forecasts predict a gradual decline, with the import value expected to reach 30.853 million USD by 2028, aligning with a predicted five-year CAGR of -2.16%.
Future trends to watch for:
- Technological advancements in local metal-rolling solutions that may further reduce import dependence.
- Economic policies influencing industrial investments in Saudi Arabia.
- Global metal industry market volatility and its impact on import prices and demand.
