Singapore Industrial Output Grows 10.6% In December

(RTTNews) - Singapore's industrial production continued to expand sharply at the end of the year, preliminary data from the Economic Development Board revealed on Friday.

Industrial production advanced 10.6 percent year-on-year in December, slightly slower than the 10.8 percent surge in November. The expected increase was 6.4 percent. Production has been rising since July.

Excluding biomedical manufacturing, industrial production also grew 10.6 percent annually in December versus a 16.0 percent jump in the prior month.

On a monthly basis, industrial production dropped 0.7 percent in December after recovering 1.7 percent in November.

Among the major clusters, transport engineering output climbed 16.0 percent annually in December, and electronics output was 14.3 percent higher.  Biomedical manufacturing output also rose sharply by 9.4 percent, driven by the pharmaceuticals segment.

Data also showed that the precision engineering cluster logged an expansion of 3.9 percent compared to last year, and general manufacturing output increased by 3.7 percent.

During the year 2024, total industrial production was 4.3 percent higher compared to last year.