Singapore's manufacturing production expanded 13.8% yoy in May 2022, easily beating market estimates of 5.8 rise and accelerating from an upwardly revised 6.4% gain in April. This was the eighth straight month of increase in manufacturing output and the steepest pace since February, amid further easing of COVID-19 curbs. Production growth picked up strongly for electronics (33.6% vs 10.4% in April), mainly boosted by semiconductors. Also, output rose further for precision engineering (3.2% vs 4.7%), mostly led by machinery & systems; transport engineering (12.9% vs 16.6%), lifted by aerospace; and general industries (9% vs 11.4%), driven by food, beverages & tobacco and printing. By contrast, production fell for both biomedical manufacturing (-7.2% vs -1.1%), due to pharmaceuticals; and chemicals (-3.4% vs -3.4%), largely linked to petrochemicals. On a monthly basis, manufacturing output rose 10.9%, the most in three months, way faster than a marginally revised 2.1% rise in April. source: Singapore Economic Development Board
Industrial Production in Singapore averaged 7.05 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 June 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.