If you are furniture exporter or supplier, it's time to look at the growing number of opportunities in the Saudi market.
According to a recent report, the domestic furniture market has experienced a stable growth of 4 percent annually in recent years. It is now the region's largest market, with an annual turnover of roughly SR 3 billion, al-Quds daily reports. Investments in this sector surpasses the SR2 billion mark. Currently, the local factories cover just 35 percent of the market needs.
Experts relate this increasing demand for furniture to the kingdom's rapid population growth. In 1999, the population expanded by 3.8 percent, one of the fastest in the world. By the end of this year, the Saudi population will be over 20 million. (SR3.75=$1).
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