The historical data from 2013 to 2023 for apple exports in Singapore shows significant fluctuations. The volume peaked in 2014, reaching 9.1 thousand metric tons, but has since experienced a notable decline. The year-on-year variation has shown volatility, particularly with sharp drops in 2017 and 2020. By 2023, the value stood at 3.64 thousand metric tons, marking an 8.95% decrease from 2022. The 5-year CAGR leading up to 2023 was -4.97%, reflecting a consistent downward trend.
Looking ahead, the forecast for 2024 to 2028 predicts a continued decline at an average annual rate of -5.41%. The overall export volume is expected to drop to 2.6 thousand metric tons by 2028, indicating cumulative negative growth of -24.27% over the next five years.
Future trends to watch for include:
- Potential shifts in global apple production and export competitiveness.
- Changes in trade policies and tariffs that may impact export destinations.
- Evolution of consumer preferences towards other fruits within key markets.
