Between 2013 and 2023, the import of textile floor coverings and carpets to Singapore has exhibited fluctuating trends. The highest value recorded was 75.616 million USD in 2014, while the lowest was 52.118 million USD in 2020. From 2021 to 2023, the figures indicated a marginal decline in value, standing at 60.675 million USD in 2023. Year-on-year analysis over the past two years shows a consistent decrease of approximately 1.1%. The compound annual growth rate (CAGR) over the last five years displayed an average annual decline of 1.35%.
In the forecasted period from 2024 to 2028, the trend is expected to continue with a gradual decline, reaching 57.063 million USD by 2028. The forecasted CAGR for the next five years is –0.97%, indicating a shrinking market.
Future trends to watch for include potential changes in consumer preferences towards sustainable or alternative flooring options, fluctuations in global trade policies, and advancements in digital retail that might impact traditional import channels. Monitoring these trends will be essential for stakeholders to navigate the evolving market landscape.
