From 2013 to 2023, the import value of copper mattes and cement copper to Singapore has shown significant fluctuations. In 2013-2014, there was a dramatic increase, peaking in 2014, followed by a sharp decline in 2015 and 2016. The period from 2017 to 2022 saw a more stable trend with values gradually increasing, reaching $841.71K in 2023. The year-on-year variation saw substantial highs and lows, with notable increases in 2017 and 2018 and a more stabilized growth from 2020 onwards. The last 5-year CAGR was -4.47%.
Moving forward, forecasts from 2024 to 2028 suggest a steady growth with a 5-year CAGR of 0.68%. The import value is expected to reach $878.87K by 2028, with a forecasted 5-year growth rate of 3.45%. This indicates a slowly recovering trend, pointing to moderate yet sustained growth.
Future trends to watch for include global economic conditions, changes in copper prices, supply chain dynamics, and potential shifts in technological needs for copper-based materials that could influence Singapore's import demand.
