The import value for vegetable, fruit, nut, and food preparations to Singapore showed a fluctuating, yet steadily increasing trend from 2013 to 2023, growing from 351.6 million USD to 490.54 million USD. Specifically, from 2021 to 2023, the year-on-year variation was around 2.91% to 2.77%, showcasing consistent, albeit gradual, growth. The compound annual growth rate (CAGR) over the last five years reached 3.29%, indicating a robust trend despite minor fluctuations. Forecasts for the upcoming years, from 2024 to 2028, project a CAGR of 1.89% with an overall growth rate of 9.79% over the period, suggesting moderate but steady growth.
Future trends to watch for:
- Potential impacts of global economic shifts on import volumes and prices.
- Changes in consumer preferences toward fresh and organic produce.
- Technological advancements in food preservation and logistics.
- Regulatory changes within Singapore and from exporting countries that could affect trade dynamics.