The import of Aluminium and Articles Thereof to Singapore has shown a downward trend over the forecast period. From 2024 to 2028, the value is expected to decrease from 1.104 billion USD to 1.0575 billion USD. In terms of year-on-year variation, there is a consistent decline of approximately 1% each year, indicating a steady reduction in import values. The Compound Annual Growth Rate (CAGR) over the five-year period is negative, reflecting a gradual decrease in the volume or value of imports. In 2023, import values stood at approximately 1.116 billion USD, providing a reference for the downward trend observed in the forecasted years.
Key future trends to watch for include potential changes in global aluminium prices, shifts in demand from key industries such as construction and electronics, and any trade policies that could impact import volumes. Additionally, advancements in recycling technology and increased domestic production could further influence the import patterns of aluminium and its articles.
