The import of lighting or visual signalling equipment to Singapore shows a forecasted declining trend from 2024 to 2028. In 2023, the actual value stood at $15.26 million. The declines in 2024 and 2025 were -14.7% and -16.6%, respectively, with a cumulative drop of -56.5% from 2024 to 2028.
Year-on-year percentage variations are anticipated to be:
- 2024: -14.7%
- 2025: -16.6%
- 2026: -19.6%
- 2027: -23.8%
- 2028: -30.7%
The Compound Annual Growth Rate (CAGR) over the five-year period is estimated at -16.5%. This suggests an average annual decline in imports of lighting or visual signalling equipment.
Future trends to watch for include advancements in local manufacturing capabilities, the adoption of new technologies reducing dependency on imports, and changes in international trade regulations that may further impact import volumes.
