The air freight volume in Singapore stood at 6.59 billion tonne-kilometers in 2023. Observing the variations, the past years have shown fluctuations with significant dips in 2017 and 2020, followed by gradual recovery. From 2021 to 2023, there's consistent growth, with a 57.51% year-on-year increase in 2022 and a 14.08% increase in 2023. The 5-year compound annual growth rate (CAGR) of 1.45% projects steady growth up to 2028, with a forecasted yearly growth rate of 7.45%.
Future trends to watch for include advancements in logistics technology, the impact of global trade patterns, and potential economic fluctuations. This could influence the sustainability of the projected growth in Singapore's air freight volume.
