The electronics cluster delivered the most outputs.
Singapore’s total manufacturing output in January jumped by 17.9% year-on-year (yoy), the Economic and Development Board (EDB) reported.
The electronics cluster recorded the highest output growth with 32.4% yoy, followed by precision engineering with 24.5%, chemicals with 13.7%, general manufacturing with 11.6%, biomedical manufacturing with 2.5%, and transport engineering with 1.4%.
Despite the growth, only 10% of manufacturers expect their output to increase in the first quarter of 2018. Biomedical manufacturing firms are the most optimistic (45%), followed by precision engineering (24%), and chemicals (5%).
The manufacturing sector grew by 10.1% in 2017, which pushed the 5.7% growth in the goods producing industries. The Ministry of Trade and Industry is expecting the manufacturing sector to continuously grow and significantly contribute the country’s overall economy in 2018.
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