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Merchandise imports by product group (Million US dollars), as defined by the World Trade Organization (WTO), refers to the total value of goods imported into a country, categorized by specific product groups, and expressed in millions of U.S. dollars.
Key Takeaways
Saudi Arabia’s imports rose from $24B in 1990 to $206.9B in 2023, reflecting industrial diversification and rising domestic demand. The 2000s marked significant growth, with imports increasing from $59.4B in 2005 to $115.1B in 2008, driven by energy revenues and infrastructure projects.
A peak of $173.8B in 2014 reflects high oil prices, while subsequent dips were linked to fluctuating oil markets. The recent increase to $206.9B in 2023 underscores Saudi Arabia’s Vision 2030 initiatives and diversification efforts.
For a broader context, visit other statistics on Saudi Arabia’s annual GDP figures, Saudi Arabia’s annual GDP growth rate, Saudi Arabia’s population figures.
Saudi Arabia Sustainability Insights Report 2024
Learn more about sustainability insights in Saudi Arabia with TGM StatBox. Explore in-depth insight report, featuring user behavior, trends, and preferences.
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