Forecast: Import of Electrical and Electronic Equipment to Saudi Arabia

The import value of Electrical and Electronic Equipment to Saudi Arabia has experienced significant fluctuations over the years. Between 2013 and 2015, there was a steady increase in imports, peaking at nearly 20 billion USD in 2015. However, post-2015, the market saw a notable decline due to economic factors, reaching a low of approximately 12 billion USD in 2020. Recovery began in 2021, with a 21.95% year-on-year increase. As of 2023, the import value stands at 15.159 billion USD, having grown by 1.14% year-on-year from 2022, with a five-year CAGR of 2.18%.

Looking ahead, the forecasted data suggests a stable growth trajectory with a five-year CAGR of 0.9%, culminating in an estimated import value of 16.051 billion USD by 2028. The overall five-year growth rate from 2024 to 2028 is projected at 4.59%.

Future trends to watch for:

• Technological advancements driving increased demand for newer electronic equipment.
• Economic policies and government investments in electronics impacting import volumes.
• Global supply chain disruptions potentially affecting import rates.
• Sustainability and electronic waste management influencing market preferences.