The import of live fish to Singapore has experienced fluctuations over the past decade, standing at 21.046 million USD in 2023. From 2013 to 2018, the market faced an overall downtrend, marked by a significant decline in 2016. However, there was a recovery phase commencing from 2019 onwards, hitting a notable dip in 2020 but rebounding judiciously in the subsequent years. The year-on-year variation showcases a stabilizing trend with minor increments observed in recent years.
Noteworthy observations for 2023 include:
- Annual value: 21.046 million USD
- Year-on-year variation: 0.67%
- 5-year CAGR (2019-2023): 0.61%
Forecasts from 2024 to 2028 predict a modest but steady increase, with a projected 0.55% annual growth rate and an estimated 2.79% cumulative growth over the five-year span, resulting in a prospective value of 21.715 million USD by 2028.
Future trends to monitor include potential impacts from global shipping disruptions, environmental regulations affecting fish supply, and evolving consumer preferences towards sustainable seafood options. Keeping a close eye on these factors could provide early indicators of shifts in market dynamics.
