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. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 6.86 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 May of 2021.
Industrial Production in Singapore is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Singapore to stand at 6.00 in 12 months time. In the long-term, the Singapore Manufacturing Production is projected to trend around 6.00 percent in 2022, according to our econometric models.