The exports of wearing apparel from Singapore to India exhibited significant fluctuations between 2013 and 2023. The value stood at 9.9165 Million US Dollars in 2023, indicating mild growth compared to the previous year. The year-on-year variation has oscillated, reflecting periods of robust growth such as a 66.16% increase in 2016, and downturns, such as the -30.42% decline in 2014. The Compound Annual Growth Rate (CAGR) over the last two years stood at 2.7%, showcasing moderate growth. For the five years preceding 2023, the average annual growth was a modest 0.63%. Future forecasts suggest a steady upward trend with a forecasted 5-year CAGR of 2.02% and an estimated overall growth of 10.53% by 2028.
Looking ahead, several trends should be closely monitored. These include the evolving trade policies between Singapore and India, shifts in consumer preferences towards sustainable and premium apparel, and the impact of technological advancements in the textile industry. Additionally, macroeconomic factors such as exchange rate volatility and global supply chain disruptions could significantly influence future export dynamics.