The import value of oil seeds, oleaginous fruits, grains, and seeds to Singapore has seen a significant declining trend from 2013 to 2017, followed by a period of stabilization and modest growth from 2018 onwards. In 2023, the import value stood at 165.79 million USD, showing a slight year-on-year increase of 0.37% and a moderate compounded average growth rate (CAGR) of 0.84% over the past five years. The forecast indicates a continued gradual growth rate with a forecasted CAGR of 0.27% over the next five years, reaching 168.69 million USD by 2028.
Future trends to watch for include potential impacts of geopolitical developments on global supply chains, evolving trade agreements in the Asia-Pacific region, sustainability and environmental regulations, and technological advancements in agricultural productivity. These factors could influence import patterns and values, affecting Singapore's overall import strategy in the coming years.
