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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.
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