Between 2013 and 2023, Malaysia's banana exports to Singapore showed a fluctuating yet generally upward trend. As of 2023, the value of these exports stood at 9.19 million US Dollars. The year-on-year variation in 2023 was a 2.66% increase, following similarly modest growth in previous years. Notably, from 2018 to 2019, the trade saw a significant decline of 14.49%, but this was followed by a recovery phase with an 18.97% increase in 2020. Over the last five years, the Compound Annual Growth Rate (CAGR) was a moderate 1.81%.
Forecasted data for the period from 2024 to 2028 suggests continued growth, with the 5-year forecasted CAGR at 1.88% and an overall forecasted growth rate of 9.77%. By 2028, the value of Malaysia's banana exports to Singapore is projected to reach 10.35 million US Dollars.
Future trends to watch for include potential fluctuations due to changes in trade policies, climate impacts on banana production, and evolving market demand in Singapore. Additionally, advancements in agricultural technology and trade logistics could significantly influence export volumes and values.