In analyzing the historical exports of cocoa powder and cocoa cake from Indonesia to Singapore, we observe fluctuations with incremental peaks and troughs over the years. The most significant year-on-year change was observed in 2016 with an increase of 594.76%, followed by substantial growth in 2017 at 101.89%. However, there were notable drops, such as in 2020 with a decline of 43.31%.
By 2023, the export value stood at 3.78 million USD. Comparing the last two years, there was a steady growth, with 2022 increasing by 16.77% and 2023 by 9.69%. Over the past five years, the compound annual growth rate (CAGR) was 9.65%, indicating a robust recovery and growth trend.
The forecasted data reflects a stabilization of exports with only a slight increase; from 2024 to 2028, the forecasted CAGR is 0.14%, suggesting a future growth rate of 0.71% over the next five years. This implies a plateauing effect after significant past volatility.
Future trends to watch for include potential changes in global cocoa prices, trade policies between Indonesia and Singapore, and the demand for cocoa products in the region, which could impact both the volume and value of exports. Increased emphasis on sustainable and premium cocoa might drive changes in market dynamics.
