From 2013 to 2023, Singapore's imports of Fish, Crustaceans, Molluscs, and Aquatic Invertebrates showed volatility with periodic growth and declines. In 2023, it stood at USD 893.81 million, reflecting a 2.61% increase from the previous year. Between 2019 and 2023, the CAGR was 3.75%, indicating moderate annual growth despite fluctuations.
Forecasted data from 2024 to 2028 projects a steady increase, with imports potentially reaching USD 1010.0 million by 2028. The forecasted 5-year CAGR is 1.98%, showing a relatively stable growth trajectory, with an overall growth rate of 10.29% over the period.
Future trends to watch for include:
- Impact of global fishery regulations and sustainability efforts on supply chains.
- Economic and geopolitical factors affecting trade relations with key exporting countries.
- Technological advances in aquaculture and seafood processing.