Singapore Manufacturing Production2021 Data | 2022 Forecast | 1984-2020 Historical

Singapore's manufacturing production rose by 16.9% yoy in October 2021, beating market consensus of a 14.5% gain and shifting from a downwardly revised 2.2% fall in September. This was the strongest pace of growth in industrial output since June, amid further COVID-19 relaxation and increasing vaccination rates. The production of biomedical manufacturing rebounded sharply (56.1% vs -35.9% in September), mainly due to pharmaceuticals. Also, there was an upturn in general manufacturing (0.8% vs -1.3%). In addition, output grew further for electronics (6.5% vs 7.2%), supported by computer peripherals & data storage, and consumer electronics; chemicals (15.3% vs 12.4%), lifted by petroleum, and petrochemicals, precision engineering (9.1% vs 31.1%), driven by machinery; and transport engineering (35.3% vs 13.8%), mainly led by marine & offshore. On a monthly basis, manufacturing output grew by 2.4%, compared with consensus of a flat reading and after a 1.9% drop in September.

Singapore's manufacturing production declined by 3.4% yoy in September 2021, compared with market forecasts of a 0.5% fall and after a downwardly revised 11.0% gain a month earlier. This was the first drop in industrial output since October 2020, amid rising cases of the Delta strain across the city-state. The production of general manufacturing fell 2.7%, reversing from a 6.4% growth in August, mainly due to printing and food, beverages & tobacco. In addition, biomedical manufacturing tumbled 35.9%, after a 1.7% drop in August, dragged down by pharmaceuticals. At the same time, the output of transport engineering slowed (12.9% vs 23.8%), mainly driven by marine & offshore. Electronics production also moderated (4.9% vs 15.4%), amid a slowdown in semiconductors. Meanwhile, output accelerated for both precision engineering (30.2% vs 22.1% vs) and chemicals (12.4% vs 0.7%). On a monthly basis, manufacturing output unexpectedly shrank 2.8%, compared with consensus of a 0.3% gain.

Singapore's manufacturing production rose by 11.2% yoy in August 2021, slowing from a marginally revised 16.4% gain a month earlier and compared with market forecasts of 8.8%. This was the weakest pace of expansion in four months, amid rising cases of the Delta strain of COVID-19. Output growth eased for precision engineering (22.9% vs 22.9%), mainly due to machinery & systems; transport engineering (23.5% vs 33.2%); and general manufacturing (6.2% vs 10.8%), mostly due to miscellaneous industries. At the same time, biomedical manufacturing fell by 0.6%, after a 78.6% jump in July, mainly dragged down by pharmaceuticals. In contrast, the output of chemicals rebounded (0.4% vs - 5.6%); and that of electronics picked up sharply (15.4% vs 3.2%), amid a strong pickup in semiconductors. On a monthly basis, manufacturing output grew by 5.7%, compared with consensus of a 3.1% gain and after a revised 2.8% drop in July.