The import of articles of apparel and clothing accessories to Singapore is projected to decline over the next few years. In 2024, the import value stands at 963.74 thousand US dollars. However, by 2028, this figure is expected to fall to 434.72 thousand US dollars, indicating a continuous downward trend.
Year-on-year percentage variations show a significant decline: from 2024 to 2025, the value decreases by approximately 14.1%, from 2025 to 2026 by around 16.1%, from 2026 to 2027 by 18.9%, and from 2027 to 2028 by 22.8%. The Compound Annual Growth Rate (CAGR) over these five years averages to a -18.4% decline per year.
Future trends to watch for include shifts in consumer behavior towards sustainable fashion, which may reduce demand for imported apparel, and the impact of e-commerce growth, potentially altering traditional import channels. Additionally, trade policies and economic performance in both exporting and importing countries will play critical roles.
