Based on the provided data, the import value of precious metal colloids, compounds, and amalgams to Singapore stood at USD 206.8 million in 2023. Over the past decade, the trend shows a general decline until 2020, followed by a modest recovery. The year-on-year changes reveal significant fluctuations, especially a steep decline in 2020 and a sharp increase in 2021. Over the last two years, the growth rate has stabilized around 0.17% year-on-year. The five-year CAGR from 2018 to 2023 is 0.32%, indicating marginal growth.
For the future forecast period of 2024 to 2028, the import value is projected to grow modestly, reaching USD 208.6 million in 2028. The five-year CAGR for this period is forecasted at 0.14%, with a total growth rate of 0.69% indicating a stable but slow growth trend.
Future trends to watch for:
- Potential market disruptions due to global economic changes.
- Technological advancements impacting the demand for precious metal colloids, compounds, and amalgams.
- Shifts in international trade policies affecting import dynamics.