Chart of the day: Check out food industry's massive contribution to Singapore's GDP

It contributed $14.4b in 2014.

The food industry has given more than food in the table for the city-state as it contributed a bulk to Singapore's GDP.

According to the Food Industry Asia report by the Oxford Economics, F&B industry contributed an estimated $14.4 billion to GDP and employed nearly 300,000 people.

Oxford Economics produced the report for FIA, using information collected in 2014, the latest year for which full economic data was available.

Food distribution dominated the industry by making the most impact in the said year, accounting two-thirds of the food industry's GDP contribution and over four in five employment it supports.

Meanwhile, the food manufacturing industry has also made a huge impact on Singapore's GDP, with its direct support for 38,800 jobs.

In 2014, the food manufacturing industry earned S$9.8 billion from sales in Singapore.

More so, food manufacturers’ supply chain spending within Singapore supported $1.6 billion of domestic procurement, $610 million of GDP, 6,100 jobs, $31 million in tax revenues, and S$37 million in Central Provident Fund contributions in the same year.

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