The import of fresh or chilled fish to Singapore has experienced fluctuations over the past decade, with significant drops and rises in specific years. In 2023, the import value stood at $173.6 million USD. Over the last two years, the import value varied by 9.09% in 2022 and 3.44% in 2023. The CAGR for the past five years leading to 2023 is approximately 4%, indicating moderate overall growth despite annual variances. Future import values are forecasted to grow at a CAGR of 2.53% through 2028, culminating in an estimated $203.26 million USD.
Looking forward, trends to watch for include:
- Potential impacts of global supply chain disruptions.
- Environmental regulations affecting fishing industries.
- Changing consumer preferences toward sustainable seafood.
- Economic factors influencing import costs and demand.
