The import data for electronic integrated circuits and microassemblies to Saudi Arabia shows a downward trend overall from 2013 to 2023. In 2023, the value of imports stood at 75.85 million USD, marking a year-on-year decline of 2.42%. This follows a similar decline from 2022. Over the past five years, the compound annual growth rate (CAGR) was -2.20%, indicating a consistent reduction in import values.
Key highlights:
• 2013-2016: The imports saw a significant drop with notable decreases in 2014 and 2016, leading to a significant decrease in import volumes.
• 2017-2023: While slight recoveries were observed, especially in 2021 with a 17.59% increase, the overall trend remained negative.
• 2023: Continued the declining trend, marking a -2.42% year-on-year decrease.
Future trends to watch for include the impacts of technological advancements and domestic production capabilities on import levels. Additionally, shifts in global supply chains, geopolitical factors, and local policy changes could influence future import values.
