Singapore's manufacturing resilience & industrial evolution

Share
Manufacturing in Singapore
Jack Loughney, Data Analyst at Interact Analysis, shares that Singapore’s manufacturing sector is about to become one of Asia’s best performers

From 2007 to 2022, manufacturing across Singapore almost doubled. Yet Interact Analysis has said that its manufacturing output has shrunk in 2023 and will continue to shrink in 2024 - before reviving in 2025, as the global semiconductor market recovers.


Singapore's resilience in manufacturing

Interact Analysis is a market intelligence authority for global technology research that focuses on industrial automation, robotics, warehouse automation and commercial vehicles.

Singapore’s overall economy suffered in 2023, due to a reduction in manufacturing output because of high inflation and high interest rates.

25% of Singapore’s GDP comes from industrial operations and the country is the 5th largest machine producer in the Asia Tri-Region, with total machinery output in 2022 of US$27bn. Singapore’s manufacturing sector is reliant on:

  • Semiconductors & electronic components (43.7%) 
  • Chemicals & pharmaceuticals (18%)

“The city state is the 11th addition to the Asia Tri-Region in Interact Analysis’ Manufacturing Industry Outlook (MIO) Tracker and we have been conducting in-depth analysis of its production output with historic data spanning 15 years, its current situation and its future outlook,” said Jack Loughney, Data Analyst at Interact Analysis. “From 2025 to 2028, we forecast continued growth for Singapore’s manufacturing output. From declines in 2023/24, it will recover strongly to become one of the Asia Pacific region’s best performers, outstripping China’s manufacturing output growth between 2025 and 2028. However, Singapore will need to monitor its over-reliance on particular industries carefully and will remain inextricably linked to the fortunes of the global semiconductor industry for the foreseeable future.”

The Interact Analysis’ Manufacturing Industry Output (MIO) Tracker covers 45 countries, is published every quarter and offers an insight into 102 industries and sub-industries, presenting 15 years of historical data alongside a 5-year forecast and unparalleled analysis of the global machinery and manufacturing industry.

Youtube Placeholder

Singapore’s semiconductor struggle

Loughney shared his thoughts on Singapore’s manufacturing in 2025 exclusively with Manufacturing Digital

"Following an extended period of rapid expansion, Singapore’s manufacturing economy is likely to struggle due to its specialisation in semiconductor industries, which have experienced a recent slump relative to their performance over the past few years.

“However, the nature of semiconductor manufacturing and semiconductor machinery manufacturing means that we expect the bounce back to be strong. This should, therefore, return Singapore to its rapid manufacturing growth trajectory by 2025."

*************************************************

For more insights into Manufacturing - check out the latest edition of Manufacturing Magazine and be sure to follow us on LinkedIn & Twitter.

Other magazines that may be of interest - Healthcare Digital

*********************************************

BizClik is a global provider of B2B digital media platforms that cover 'Executive Communities' for CEO's, CFO's, CMO's, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.

BizClik, based in London, Dubai & New York offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

Share

Featured Articles

Your Guide to Manufacturing LIVE Chicago

With just six months to go until Manufacturing LIVE Chicago, explore the highlights you can look forward to below

UPDATED VENUE & DATE – Manufacturing LIVE Chicago 2025

Manufacturing LIVE Chicago announces important changes to its venue and date for the co-located event with PSC LIVE and Sustainability LIVE in 2025

The Breakdown of the Global Plastics Treaty isn't the end

The failure of the INC-5 talks has caused anger across the manufacturing sector, but the breakdown of this treaty will not stop efforts to address plastic

Stellantis Plant Shutdown Confirms EV Manufacturing Concerns

Sustainability & ESG

The Highlights of the Rockwell Automation Fair 2024

Digital Factory

TFL Drives Future of Electrification With Buses on Route 358

Sustainability & ESG