Fish farming production in Singapore demonstrated a fluctuating trend from 2013 to 2023, peaking at 6.9 thousand metric tons in 2015 and dipping to its lowest at 4.83 thousand metric tons in 2020. As of 2023, the production stood at 6.0 thousand metric tons. Year-on-year variations ranged dramatically, with a notable dip of -17.19% in 2020 and a modest increase of 4.86% in 2023. The CAGR over the last five years leading to 2023 averages 1.02%, indicating moderate growth.
Looking forward, forecasted data from 2024 to 2028 suggests a steady increase in production, with a forecasted 5-year CAGR of 0.93% and an overall growth rate of 4.71%. By 2028, production is expected to reach 6.36 thousand metric tons.
Future trends to watch for:
- Technological advancements in aquaculture practices
- Environmental sustainability concerns
- Government policies and regulations
- Market demand fluctuations and pricing pressures
