In 2023, the actual export of insecticides from Singapore stood at approximately 9.094 million kilograms. The forecasted data from 2024 to 2028 show a consistent year-on-year increase, reflecting a steady growth trend. Specifically, the growth rates are as follows:
■ 2023 to 2024: Approximately 1% increase
■ 2024 to 2025: Approximately 1% increase
■ 2025 to 2026: Approximately 1% increase
■ 2026 to 2027: Approximately 1% increase
■ 2027 to 2028: Approximately 1% increase
The Compound Annual Growth Rate (CAGR) over the last five years is around 1% per year.
Future trends to watch for include advancements in eco-friendly and sustainable insecticide formulations and fluctuations in global agricultural practices which may impact demand. Additionally, regulatory changes and competitive dynamics within the global market could present challenges or opportunities for exporters.
