The import of machinery for liquefying air or other gases to Singapore shows a projected decline over the forecast period from 2024 to 2028. Starting at 3.7699 million USD in 2024, the value is expected to decrease year on year, reaching 2.1422 million USD by 2028. This downward trend from 2024 indicates a significant reduction in import values, averaging an annual percentage decrease through the period.
Looking at the year-on-year variation shows consistent negatives:
- From 2024 to 2025: -11.1%
- From 2025 to 2026: -12.3%
- From 2026 to 2027: -13.7%
- From 2027 to 2028: -15.6%
The compound annual growth rate (CAGR) over the next five years is negative, reflecting a considerable decrease in the import value of these machines.
Future trends to watch for may include technological advancements in local production capabilities, shifts in industrial demand, governmental policies favoring domestic production, and global economic conditions affecting trade dynamics.
