The export of urea, including aqueous solution from Singapore, showed significant fluctuations over the last decade, with a marked increase between 2013 and 2015, reaching 1451.9 thousand kilograms. This was followed by a decline in 2016, before peaking at 3492.3 thousand kilograms in 2017. Despite subsequent fluctuations, the export levels remained above 1900 thousand kilograms post-2017, reaching 2403.9 thousand kilograms in 2023.
Year-on-year variations were highly volatile, from a high of 215.59% in 2017 to a low of -44.13% in 2018. Over the past five years, the average annual growth rate (CAGR) was 4.26%. The forecast for the next five years suggests a more stable but modest growth with a CAGR of 1.12%, reaching 2581.3 thousand kilograms in 2028, reflecting a growth rate of 5.74% from 2024.
Future trends to watch include:
- Potential market shifts or disruptions that could affect supply chains.
- Environmental regulations impacting production and export levels.
- Economic conditions in major importing countries affecting demand.
