In 2023, the import value of fishing vessels and factory ships in Singapore stood at 20.27 million s. Based on the forecast data for the next five years, there is a steady upward trend in the import values, with a projected value of 20.82 million s in 2024, 21.44 million s in 2025, 22.04 million s in 2026, 22.62 million s in 2027, and 23.2 million s in 2028.
The year-on-year variations from 2024 to 2028 highlight a consistent growth pattern:
- 2024 shows a 2.7% increase from 2023
- 2025 shows a 3.0% increase from 2024
- 2026 shows a 2.8% increase from 2025
- 2027 shows a 2.6% increase from 2026
- 2028 shows a 2.6% increase from 2027
The CAGR over the five-year forecast period (2024-2028) is approximately 2.7%, reflecting a stable and steady growth in import values.
Future trends to watch for include advancements in maritime technology, environmental regulations affecting vessel specifications, and potential changes in trade policies which could influence import volumes and values.
