The forecast for the import of live fish to Singapore indicates a decreasing trend from 1.6817 million kilograms in 2024 to 1.3754 million kilograms in 2028. Comparing the data as a year-on-year variation illustrates successive declines: -4.7% from 2024 to 2025, -4.8% from 2025 to 2026, -4.9% from 2026 to 2027, and -5.1% from 2027 to 2028. The average compound annual growth rate (CAGR) over the next five years is approximately -4.9% per year.
In 2023, the actual import volume stood higher than the forecasted 2024 value, demonstrating a notable decreasing trend that is projected to continue. This trend can be attributed to potential factors such as increasing local aquaculture, environmental regulations, or changes in consumer preferences.
Future trends to watch for include potential shifts in trade regulations, advancements in local fish farming technology, economic factors such as inflation or recession, and consumer demand changes driven by health or environmental concerns. Monitoring these variables could provide insights into any deviations from the forecasted downward trend.