The production of non-coniferous roundwood in Singapore has shown a consistent decline from 2013 to 2023, decreasing from 31.18 to 26.86 thousand cubic meters. This downward trend represents an average year-on-year decrease of approximately 1.7%, with the Compound Annual Growth Rate (CAGR) over the past five years standing at -1.33%.
Recent data indicates that between 2022 and 2023, production dropped by 1.9%, reflecting a sharper decline compared to the previous years. As we look towards the future, the forecast predicts that this declining trend will continue, with an estimated decrease in production to 24.98 thousand cubic meters by 2028.
Future trends to watch for include:
- Further industry consolidation as remaining producers strive to maintain profitability amid declining yields.
- Investment in sustainable practices and technology to potentially reverse or mitigate the production decline.
- Changes in government policies or global demand that may influence the production levels and economic viability of non-coniferous roundwood in Singapore.
