Manufacturing output grows 1.1% YoY in January 2024

The transport engineering sector recorded the highest output growth of 43.5% YoY.

Singapore’s manufacturing output grew 1.1% YoY in January 2024.

EDB Singapore attributed the increase to the output growth in various sectors, led by the transport engineering sector, which recorded a 43.5% YoY increase.

The marine and offshore engineering segment, which grew 27.6% YoY, drove the increase for the transport engineering sector.

Precision engineering also recorded output growth, increasing 27.7% YoY, with the machine & systems segment expanding 33.3% due to higher production of front-end semiconductor equipment and process control equipment.

The chemicals sector also grew 3.8% YoY due to specialities segment expansion.

On the other hand, electronics and general manufacturing recorded output declines of 3.4% YoY and 25.9% YoY, respectively.

In addition, biomedical manufacturing also declined 25.9% YoY.

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