In 2023, Singapore's basic metals exports to Malaysia stood at 1.8098 billion US dollars. Over the observed period, the export value displayed considerable volatility. The highest growth was seen in 2014 with a 9.18% year-on-year increase, while the steepest decline occurred in 2015 at -32.46%. From 2018 to 2023, a consistent increase was noted, but the changes moderated, with only slight year-on-year variations in the recent two years (0.53% in 2022 and 0.52% in 2023).
Looking ahead:
- The forecast indicates a steady but slow growth trend, with a CAGR of 0.42% expected from 2023 to 2028.
- Future trends to watch for include potential impacts from global market fluctuations, policy changes in Malaysia and Singapore, and shifts in demand for basic metals driven by technological advancements and industry needs.
