Based on the provided data for the import of ice, snow, and potable water to Singapore, we observe a steady year-on-year growth from 2024 to 2028. Specifically, from 2024 to 2025, the volume increases by approximately 3.54%, from 2025 to 2026 by 3.37%, from 2026 to 2027 by 3.18%, and from 2027 to 2028 by 3.03%. The compounded annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 3.28%.
For context, in 2023, Singapore imported a total of 304.35 million kilograms of ice, snow, and potable water, which provides a baseline for assessing the projected growth. The quantitative increase from 2023 to 2024 is notable at 3.63%, aligning with a consistent upward trend over the subsequent years.
Future trends to watch for:
- Potential increases in import volumes due to growing population and higher urbanization rates.
- The impact of climate change on water scarcity and the potential need for increased imports.
- Technological advancements in water purification and ice production that could influence import volumes.
- Geopolitical factors and trade policies that may affect the supply chain and availability of imports.