Singapore's export of copper and articles thereof stood at $1,356.2 million in 2023. From 2013 to 2023, the market experienced significant oscillations with notable growth periods in 2016 and 2017, followed by a dip in 2020 caused by global economic conditions. The period from 2021 onwards shows a stable growth trajectory with a year-on-year increase of 2.09% in 2023. The last five years reflected an average annual growth (CAGR) of 2.66%, indicating consistent but modest growth.
Future trends suggest continuous moderate growth, with exports expected to rise from $1,386.7 million in 2024 to $1,501.5 million by 2028, achieving a forecasted 5-year CAGR of 1.6%. Key factors to monitor include global demand for copper, technological advances in the use of copper in industries, and economic policies affecting trade.
