The value of ICT services exports in the Middle East & North Africa was at $66.171 billion in 2023, marking consistent growth from previous years. The year-on-year variation for 2022 and 2023 stood at 10.99% and 11.29% respectively. The compound annual growth rate (CAGR) for the past five years reached 14.25%, indicating a strong upward trend in the region's ICT exports. Forecasts show continued growth, with expected values reaching $98.026 billion by 2028 and a forecasted 5-year CAGR of 6.17%, translating to an overall growth rate of 34.89% over this period.
Future trends to watch for include:
- Increased investments in ICT infrastructure and technology innovation.
- Potential shifts in policy frameworks impacting ICT services trade.
- Advancements in AI, cloud computing, and cybersecurity driving demand.
- Growing regional collaboration and trade agreements to boost exports.
- The rise of start-ups and SMEs contributing to the export market.
