Singapore's manufacturing production surge 27.5% yoy in June 2021, beating market forecasts of 26.8%, and accelerating slightly from a downwardly revised 27% rise a month earlier. This was the eleventh straight month of growth in manufacturing output and the steepest pace since November 2010, as activity in the economy gained steam following a ramped-up in COVID-19 vaccinations. Output growth accelerated for: electronics (26.2% vs 23.6% in May), mostly led by semiconductors; chemicals (30.6% vs 16.1%), mainly petroleum petrochemicals; and biomedical manufacturing (42.5% vs 36.5%), boosted by pharmaceuticals, and medical technology. Meanwhile, output continued to expand for precision engineering (22.2% vs 33.2%), of which machinery & systems; transport engineering (28.3% vs 45.9%); general manufacturing (17.4% vs 25.0%) On a monthly basis, manufacturing output unexpectedly fell by 3.0%, compared with consensus of a 0.3% rise and after a downwardly revised 4.4% rise in May. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 6.94 percent from 1984 until 2021, reaching an all time high of 58.60 percent in May of 2010 and a record low of -32.30 percent in March of 2009. This page provides the latest reported value for - Singapore Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
Industrial Production in Singapore is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Manufacturing Production is projected to trend around 6.00 percent in 2022, according to our econometric models.