The import of rolled aluminium foil to Singapore stood at 73.514 million USD in 2023. Over the last two years, there was a year-on-year increase of 0.29% in 2022 and 2.2% in 2023. The average annual growth rate, or CAGR, over the last five years was 1.71%, reflecting a stable trend with minor fluctuations. Historically, the import values have seen significant peaks and troughs with a notable decrease in 2020 by 14.92% due to global disruptions likely related to the COVID-19 pandemic. The import levels rebounded with a strong increase in 2021 by 25.84%, followed by stabilization.
Future forecasts suggest a steady increase, with predictions for continued growth over the next five years, culminating in an import value of 81.854 million USD by 2028. The forecasted CAGR over this period is expected to be 1.67%, indicating moderate and consistent growth.
Future trends to watch for include the global economic conditions, potential trade agreements, and advancements in aluminium foil production technology. Additionally, sustainability and environmental regulations could impact both the supply chain and demand dynamics in this sector.
