Singapore's manufacturing production fell 9.2% year-on-year in March 2024, tumbling sharply from an upwardly revised 4.4% growth in the previous month and worse than the market expectations of a 1.5% drop. Output remarkably declined for electronics (-11.3% vs 3.9% in February), biomedical manufacturing (-34.3% vs 26.8%), and transport engineering (-9.7% vs 19.8%). Moreover, output slowed for chemicals (4.2% vs 11.7%). Meanwhile, output rebounded for precision engineering (3.2% vs -20.2%). On a monthly basis, manufacturing activity sharply dropped to 16% in March 2024, shifting from an upwardly revised 14.6% gain in the preceding month and far above market forecasts of 8.8% fall. source: Singapore Economic Development Board

Industrial Production in Singapore decreased 9.20 percent in March of 2024 over the same month in the previous year. Industrial Production in Singapore averaged 6.59 percent from 1984 until 2024, reaching an all time high of 58.60 percent in May of 2010 and a record low of -32.20 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 April of 2024.

Industrial Production in Singapore decreased 9.20 percent in March of 2024 over the same month in the previous year. Industrial Production in Singapore is expected to be 4.70 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 3.20 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-26 05:00 AM
Industrial Production YoY
Feb 3.8% 0.6% 0.5% 0.5%
2024-04-26 05:00 AM
Industrial Production YoY
Mar -9.2% 4.4% -1.5% 2.3%
2024-05-24 05:00 AM
Industrial Production YoY
Apr -9.2%


Related Last Previous Unit Reference
Bankruptcies 99.00 57.00 Companies Feb 2024
Business Confidence 10.00 7.00 points Dec 2023
Car Registrations 3825.00 3927.00 Units Feb 2024
Changes in Inventories -1503.30 -1064.20 SGD Million Dec 2023
S&P Global PMI 55.70 56.80 points Mar 2024
Corruption Index 83.00 83.00 Points Dec 2023
Corruption Rank 5.00 5.00 Dec 2023
Industrial Production YoY -9.20 4.40 percent Mar 2024
Industrial Production MoM -16.00 14.60 percent Mar 2024
Leading Economic Index 105.90 105.90 points Dec 2023
SIPMM Manufacturing PMI 50.70 50.60 points Mar 2024
Services Sentiment 5.00 9.00 points Dec 2023

Singapore Manufacturing Production
In Singapore, industrial production measures the output of businesses integrated in the manufacturing sector of the economy.
Actual Previous Highest Lowest Dates Unit Frequency
-9.20 4.40 58.60 -32.20 1984 - 2024 percent Monthly
2015=100, NSA

News Stream
Singapore Manufacturing Output Falls More than Expected
Singapore's manufacturing production fell 9.2% year-on-year in March 2024, tumbling sharply from an upwardly revised 4.4% growth in the previous month and worse than the market expectations of a 1.5% drop. Output remarkably declined for electronics (-11.3% vs 3.9% in February), biomedical manufacturing (-34.3% vs 26.8%), and transport engineering (-9.7% vs 19.8%). Moreover, output slowed for chemicals (4.2% vs 11.7%). Meanwhile, output rebounded for precision engineering (3.2% vs -20.2%). On a monthly basis, manufacturing activity sharply dropped to 16% in March 2024, shifting from an upwardly revised 14.6% gain in the preceding month and far above market forecasts of 8.8% fall.
2024-04-26
Singapore Manufacturing Output Rise More than Expected
Singapore’s manufacturing production grew 3.8% year-on-year in February 2024, following a downwardly revised 0.6% gain in the previous months, easily beating market expectations of a 0.5% rise. The upturn was mainly boosted by a sharp rebound in the production of biomedical manufacturing (27.4% vs -25.9% in January) and electronics (2.6% vs -4.7%), amid faster rises in chemicals (11.2% vs 3.9%). Meanwhile, output growth moderated for transport engineering (19.6% vs 42.5%). Conversely, output shrank for general manufacturing (-3.4% vs -1.4%) and precision engineering (-19.9% vs 27.8%). On a monthly basis, manufacturing activity jumped 14.2%, rebounding sharply from an upwardly revised 6.7% fall in the prior month and the most since February 2022, and far above market forecasts of a 3.1% rise.
2024-03-26
Singapore Manufacturing Output Recovers in January
Singapore’s manufacturing production rose 1.1% year-on-year in January 2024, recovering from a downwardly revised 2.4% drop in December but coming less than market expectations of a 4.5% growth. The upturn was mainly due to a strong rebound in output for precision engineering (27.7% vs -5.9% in December), and an acceleration in activity for transport engineering (43.5% vs 0.2%), and chemicals (3.8% vs 3%). Meanwhile, output declined for electronics (-3.4% vs 6.2%), biomedical manufacturing (-25.9% vs -24.1%), and general manufacturing (-3.4% vs -17.1%). On a monthly basis, manufacturing activity shrank 5.7%, slipping further from a downwardly revised 1.3% decline in the prior period and against market forecasts of a 3% rise.
2024-02-26