Manufacturing sector expands by 10.1% in 2017

It pushes 5.7% growth in the goods producing industries.

The manufacturing sector grew by 10.1% for the whole year of 2017, which pushed the 5.7% growth in the goods producing industries.

For the fourth quarter of 2017, manufacturing sector registered a 4.8% year-on-year increase driven by growth in the electronics and precision engineering clusters.

Transport engineering and biomedical manufacturing clusters contracted as a result of poor performance from the marine & offshore engineering segment, as well as lower production of active pharmaceutical ingredients and biological products, respectively.

Despite this, the Ministry of Trade and Industry is expecting continued growth in the manufacturing sector which will push the overall economy growth of Singapore in 2018.