Singapore Manufacturing Production1984-2021 Data | 2022-2023 Forecast | Calendar

Singapore's manufacturing production rose by 7.6% yoy in March, exceeding market forecasts of a 3% growth and after a marginally revised 16.5% surge a month earlier. This was the fifth straight month of increase in industrial output, as a recovery in the economy from the COVID-19 pandemic gained traction. Output grew further for electronics (33.7% vs 30.2% in February), mostly led by semiconductors (37.8%); chemicals (9.5% vs 2.4%); precision engineering (5.6% vs 16.1%), of which machinery & systems (8.3%). Meanwhile, production shrank for general manufacturing industries (-0.5% vs -6.8%) transport engineering (-20.6% vs -21.6%) and biomedical manufacturing (-6.6% vs 22.1%) mainly due to pharmaceuticals (-9.6%). On a monthly basis, manufacturing output unexpectedly fell by 1.7%, the first drop in five months, missing consensus of a 2.2% gain.

Singapore’s manufacturing production soared by 16.4 percent year-on-year in February 2021, compared with market consensus of a 16.5 percent rise and accelerating from an upwardly revised 9.2 percent gain. This was the steepest growth in industrial production since November last year, reflecting a faster recovery in the economy from the coronavirus shocks. Output grew further for electronics (30.3% vs 21.9% in January), mostly led by semiconductors (36.5%); chemicals (2.5% vs 9.0%); precision engineering (15.0% vs 16.4%), of which machinery & systems (23.5%), while those of biomedical manufacturing rebounded sharply (23.9% vs -9.3%) mainly due to pharmaceuticals (16.7%). Meanwhile, production shrank for both general manufacturing industries (-5.5% vs 2.2%) and transport engineering (-24.2% vs -20.1%). On a monthly basis, manufacturing output unexpectedly rose by 1.6 percent, beating forecasts of a 2.9 percent drop and after a downwardly revised 4.3 percent gain in January.

Singapore’s manufacturing production grew by 8.6 percent year-on-year in January 2021, beating market consensus of a 5.7 percent gain and after an upwardly revised 16.2 percent surge a month earlier. This was the third straight month of increase in industrial production as the economy recovered further from the COVID-19 crisis. Output advanced further for electronics (19.8% vs 14.8% in December), mostly led by semiconductors (23.8%); chemicals (9% vs 12.4%); precision engineering (15.3% vs 10.7%), of which machinery & systems (20.2%); and manufacturing industries (3.3% vs 3.5%). On the flip side, output continued to fall for both biomedical manufacturing (-8.6% vs -5.3%), mainly due to pharmaceuticals (-16.7%); and transport engineering (-19.0% vs -31.4%). On a monthly basis, manufacturing output rose by 4.8 percent, below forecasts of a 5.5 percent gain and after a downwardly revised 1.4 percent rise in December.

Singapore’s manufacturing production jumped by 14.3 percent year-on-year in December 2020, beating market consensus of an 11.5 percent growth and after an upwardly revised 18.7 percent surge a month earlier. Production continued to expand for electronics (41.8% vs 35.2% in November), mostly led by semiconductors (51.0%); and chemicals (12.3% vs 10.0%). Also, precision engineering continued to increase (11.0% vs 6.4%), of which machinery & systems (12.6%). Meanwhile, production of manufacturing industries rebounded sharply (5.9% vs -14.3%). Conversely, output dropped further for both biomedical manufacturing (-13.2% vs 46.3%), mainly due to pharmaceuticals (-22.8%); and transport engineering (-31.5% vs -28.0%). On a monthly basis, production unexpectedly grew by 2.4 percent, missing market consensus of a 0.6 percent fall and after an upwardly revised 7.5 percent surge in November.