The export of glasses for corrective spectacles from Singapore has shown significant fluctuations over the past decade. Actual data indicate notable growth spurts and declines, such as a substantial increase in 2017 of 84.1%, and a notable dip in 2014 of -64.56%. As of 2023, the export value stood at 1650.9 thousand US dollars, with moderate year-on-year growth of 3.21%.
The compound annual growth rate (CAGR) from 2018 to 2023 was 0.58%, while the forecasted 5-year CAGR from 2024 to 2028 is 2.37%, indicating a steady positive trend. The forecast projects consistent growth, with export values rising steadily each year.
Future trends to watch for:
- Adoption of new technologies in eyewear manufacturing and materials.
- Increasing demand for corrective spectacles as global vision problems rise.
- Potential trade policy changes impacting international exports.
- Influences of economic conditions and consumer purchasing power.
