The import of crude coconut (copra) oil to Saudi Arabia showed volatility over the past decade. From 2013 to 2023, the values experienced significant swings, with notable peaks in 2014 and 2017, along with drastic drops in 2013 and 2016. The import value in 2023 stood at 704.15 thousand US dollars. Looking at variations in the most recent years, there was a slight decline of 0.055% in 2023. Over the last five years, a compound annual growth rate (CAGR) of 4.41% was observed. From 2024 onwards, imports are forecasted to stabilize with minimal annual variations, signifying a forecasted 5-year CAGR of -0.03%, highlighting a near-flat trend.
Future trends to watch for include potential impacts from global market conditions such as the price volatility of coconut oil, shifts in demand from the food and cosmetics industries, and possible trade policy changes in Saudi Arabia affecting import volumes.