The import of gold to Singapore has been forecasted to increase steadily from 2024 to 2028. In 2023, the import value stood at 16.123 billion USD. Year-on-year, the import value is expected to rise as follows:
- 2024: 16.633 billion USD (+3.2%)
- 2025: 17.154 billion USD (+3.1%)
- 2026: 17.665 billion USD (+3.0%)
- 2027: 18.166 billion USD (+2.8%)
- 2028: 18.657 billion USD (+2.7%)
Over the forecast period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is approximately 3.0%. This consistent upward trend suggests a stable increase in the demand for gold imports.
Future trends to watch for include potential shifts in global gold prices, changes in import-export regulations, and the impact of broader macroeconomic factors such as inflation, currency exchange rates, and geopolitical uncertainties. Monitoring these variables could provide further insight into the direction of Singapore’s gold import market.
