Singapore Industrial Production Growth Accelerates To 16.6%

(RTTNews) - Singapore's industrial production growth improved markedly at the start of the year, preliminary data from the Economic Development Board revealed on Wednesday.

Industrial production advanced 16.6 percent year-on-year in January, much slower than the 10.9 percent expansion in December.

Excluding biomedical manufacturing, industrial production grew 24.1 percent annually in December versus a 13.1 percent increase in the prior month.

On a monthly basis, industrial production rose 5.3 percent in January.

Among the major clusters, electronics output grew 44.0 percent annually in January, led by growth in other electronic modules and components and semiconductors, with the latter supported by strong AI-related demand.

Transport engineering output was 25.2 percent higher, and the precision engineering segment expanded 13.2 percent. Meanwhile, general manufacturing output declined 2.6 percent from last year, and biomedical manufacturing output plunged 33.1 percent.