Singapore’s manufacturing production surged by 17.9 percent year-on-year in November 2020, beating market consensus of a 15.4 percent growth and after a downwardly revised 0.8 percent fall a month earlier. Production recovered sharply for electronics (34.9% vs -1.1% in October), mostly led by semiconductors (40.9%); and chemicals (10.1% vs -0.6%). In addition, output of biomedical manufacturing grew much more (40.6% vs 10.7%), mainly due to pharmaceuticals (50.8%). Meanwhile production of precision engineering continued to increase (7.3% vs 11.0%), of which precision machinery & systems (9.4%). By contrast, production fell further for both general manufacturing industries (-13.3.0% vs -10.8%) and transport engineering (-29.5% vs -31.6%). On a monthly basis, production jumped 7.2 percent, after a 19 percent plunge in October. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 6.80 percent from 1984 until 2020, 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 January 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 2021, according to our econometric models.