In 2023, the import of non-monetary gold in semi-manufactured forms to Singapore stood at a value of 14.553 billion US dollars. Forecasted data from 2024 onwards show a gradual year-on-year increase: 3.1% in 2024, 3.2% in 2025, 3.0% in 2026, 2.9% in 2027, and 2.8% in 2028. The compound annual growth rate (CAGR) over the next five years is expected to be around 3.0%.
Future trends to watch for include:
- Economic stability and policy changes in major gold-exporting countries.
- Fluctuations in gold prices impacting import volumes and values.
- Technological advancements in gold processing and manufacturing sectors.
- Changes in demand for gold in regional and global markets.
