The forecast for the export of rubber and plastic products from Singapore to the US shows a gradual decline from 2024 to 2028. After reaching a value of 162.28 million USD in 2024, the exports are expected to drop slightly each year, culminating in a value of 157.6 million USD by 2028. Compared to the actual value in 2023 of 163.5 million USD, this represents a slight downward trend.
- By 2025, exports are forecasted to decrease by approximately 0.75% compared to 2024.
- For 2026, the expected decline is around 0.73% from the previous year.
- By 2027, another 0.73% drop is anticipated.
- Lastly, in 2028, a decrease of about 0.71% is projected from the previous year.
Overall, the compound annual growth rate (CAGR) from 2024 to 2028 is negative, signaling an annual average decrease over this period.
Future trends to monitor include potential shifts in US trade policies, advancements in production technology affecting costs, and changes in global supply chain dynamics that could impact Singapore’s competitive edge in exporting these products to the US market.
