Based on the data, Singapore's capture fisheries production volume experienced significant fluctuations from 2013 to 2023. The volume saw a steady decline from 2013 to 2017, with the most significant drop in 2020, followed by a sharp rebound in 2022. The production volume stood at 1.07 thousand metric tons in 2023. Over the last two years, the production saw a 245.27% increase in 2022 and a slight 1.51% increase in 2023. The 5-year CAGR from 2018 to 2023 was -3.9%, indicating an average yearly decline.
Looking forward, forecasted data suggests a continued downward trend, with a forecasted 5-year CAGR of -22.89% and an overall decline of 72.73% from 2023 to 2028. By 2028, the volume is expected to be at 0.24675 thousand metric tons.
Future trends to watch for include the impact of environmental policies, technological advancements in sustainable fishing, and global market demand, which could influence production volumes.
