The forecast for Singapore's seafood exports to Saudi Arabia indicates a substantial decline from 2024 to 2028. Starting at 89.38 thousand USD in 2024, the value drops to 68.29 thousand USD in 2025, 47.62 thousand USD in 2026, 27.37 thousand USD in 2027, and finally down to 7.52 thousand USD in 2028. The actual figures for 2023 stood significantly higher, implicitly suggesting a more robust market before the forecasted downturn.
Year-on-year percentage variations for the first forecasted years:
- 2024-2025: -23.62%
- 2025-2026: -30.26%
- 2026-2027: -42.54%
- 2027-2028: -72.51%
Trends to watch for in the future include potential economic or environmental factors affecting seafood production, changes in bilateral trade relations between Singapore and Saudi Arabia, and shifts in consumer demand within the Saudi market that could either mitigate or exacerbate the forecasted declines. Monitoring government policies and technological advancements in aquaculture can also offer insights into reversing the negative trend.
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