The exports of Food, Beverages, and Tobacco Products from the US to Singapore showed a fluctuating trend between 2013 and 2023. Starting at $606.22M in 2013 and reaching $761.86M in 2023, a significant variation can be observed. There was a decline in 2015, followed by a recovery and steady growth from 2016 onwards. Notable increases in 2017 (18.88%) and 2021 (8.1%) were recorded. In 2023, the year-on-year growth was 2.46%, highlighting a continued positive trend for the recent years.
The forecasted data from 2024 to 2028 suggests a continued increase, reaching $857.45M by 2028. The 5-year CAGR from 2024 to 2028 is projected at 1.86%, indicating a steady but moderate growth.
Future Trends to Watch For:
- Monitor changes in dietary preferences and health trends impacting food and beverage categories.
- Possible trade policy changes between the US and Singapore.
- Shifts in supply chain dynamics due to global events or technological advancements.