Forecast: Energy Productivity in Singapore

Energy productivity in Singapore, as measured by US Dollars Per Thousand of Total Primary Energy Supply, showed notable fluctuations over the observed years. Starting at 16.99 in 2013, it exhibited a downward trend until hitting a low of 14.67 in 2017. This was followed by a recovery phase, fluctuating slightly but generally trending upwards to stand at 16.46 in 2023.

The last two years saw minor annual increases of 0.85% and 0.84% for 2022 and 2023, respectively. The average annual growth rate (CAGR) over the last five years was minimal, averaging at approximately 0.76%. The forecast suggests moderate growth, with a forecasted five-year CAGR of 0.63% and a total growth rate of 3.17% by 2028.

Future trends to watch for include the impacts of technological advancements and energy efficiency policies, which could spur further improvements in energy productivity. Additionally, global energy market dynamics and Singapore’s energy policy shifts will be crucial in shaping these trends.