Based on the provided data, the import of parts of domestic electro-thermic apparatus to Saudi Arabia in 2023 stood at 18.073 million USD. The forecast data predict a slight year-on-year decrease from 2024 to 2028. Specifically, the drop from 2024 to 2025 is 0.12%, from 2025 to 2026 is 0.12%, from 2026 to 2027 is 0.12%, and from 2027 to 2028 is 0.11%. Over the five-year forecast period, the Compound Annual Growth Rate (CAGR) indicates a consistent decline of approximately 0.11% per year.
Future trends to watch for:
• Technological advancements in domestic electro-thermic apparatus that may reduce the need for spare parts, impacting the import value.
• Changes in the regulatory environment affecting import policies and tariffs.
• Saudi Arabia’s local production capacity and the potential shift towards domestic suppliers.
• Global supply chain disruptions that could influence import patterns and costs.
