Singapore manufacturing output soars 21.0% YoY in August ’24

Singapore’s manufacturing sector experienced a significant surge in August 2024, with output increasing by a substantial 21.0 per cent on a year-on-year basis. This marked a substantial improvement compared to the previous month’s growth rate.

Excluding the biomedical manufacturing sector, which has been a key driver of Singapore’s manufacturing growth in recent years, output expanded by an even more impressive 27.5 per cent.

On a seasonally adjusted month-on-month basis, manufacturing output rose by 6.7 per cent, excluding biomedical manufacturing, which saw a more modest increase of 11.0 per cent.

Attribution: Singapore Department of Statistics report

Subediting: M. S. Salama