Singapore's manufacturing production rose by 2.2% yoy in June 2022, missing market estimates of 6% and slowing sharply from an upwardly revised 10.4% gain in April. While expanding for the ninth straight month, the latest print was the softest pace since January, amid the impact of COVID-19 hit. Output of electronics were sluggish (2.3% vs 22.9% in May), linked to semiconductors; and those of general industries slowed (10.2% vs 11.3), mostly due to food, beverages & tobacco. In addition, production fell faster for both biomedical engineering (-9.2% vs -5.1%), driven by pharmaceuticals; and chemicals (-11% vs -3.3%), dragged down by petroleum and petrochemicals. In contrast, output growth accelerated for both precision engineering (5.6% vs 4%), led by machinery; and transport engineering, due to marine & offshore, aerospace, and land. On a monthly basis, manufacturing output shrank 8.5% in June, the first drop in three months, and swinging from a downwardly revised 9.2% gain in May. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 7.03 percent from 1984 until 2022, 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 2022.
Industrial Production in Singapore is expected to be 9.00 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 3.00 percent in 2023, according to our econometric models.