Singapore Manufacturing Output Up 10%

March 26, 2008
Transport engineering increased 17.2% reversing 3.2% drop in January

On strong production in the electronics and transport engineering, Singapore's factory output rose an annual 10% in February, the Economic Development Board (EDB) said March 26.

Production of electronics, a key Singapore export, expanded 12.3% last month, faster than the 8% increase in January. Transport engineering, which covers the making of oil rigs and related equipment as well as shipbuilding and ship repair, jumped 17.2%, reversing a 3.2% drop in the previous month.

Biomedicals output, which covers pharmaceuticals, grew 9.3%, sharply decelerating from its annual growth of 60.3% in January.

Analysts had expected the manufacturing output to grow at 3.3% in February. Manufacturing accounts for about a quarter of the Singapore economy. The better-than-expected manufacturing output followed the release of data showing that Singapore's key non-oil domestic exports (NODX) rose an annual 7.3% in February, faster than the 2.8% growth clocked in the previous month.

Singapore's economy expanded 7.7% in 2007 but the trade ministry foresees a slower pace of 4%-6% this year because of increased risks from the U.S., a major buyer of the country's exports.

Copyright Agence France-Presse, 2008

Popular Sponsored Recommendations

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!