In 2023, the import of aluminium and articles thereof to Saudi Arabia was 1.29 billion USD. Based on the forecasted data for the subsequent years, we observe a downward trend. The import values are projected to decrease incrementally each year from 2024 through 2028. The year-on-year percentage variations from 2024 to 2028 show decreases of roughly 1.21%, 1.2%, 1.19%, and 1.19% respectively. The compound annual growth rate (CAGR) over this period indicates an average annual decrease of approximately -1.21%.
Future trends to watch for include:
- Fluctuations in global aluminium prices and their impact on import costs.
- Saudi Arabia's domestic production capabilities and investments in the aluminium sector.
- Changes in trade policies and international relations affecting import tariffs and regulations.
- Technological advancements and shifts in demand for aluminium and its articles in various industries.