Home News Singapore economy

Singapore's factory output makes a surprise 16.5% expansion, but expected to take a hit with 'more pronounced' impact of Covid-19 : EDB

Amala Balakrishner
Amala Balakrishner4/24/2020 08:00 PM GMT+08  • 4 min read
Singapore's factory output makes a surprise 16.5% expansion, but expected to take a hit with 'more pronounced' impact of Covid-19 : EDB
“[A] more pronounced impact [on factory output] is likely to be seen from April 2020 onwards due in part to the implementation of the ‘circuit breaker’ measures,” says EDB.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Apr 24): Singapore’s factory output staged a surprising rebound with a 16.5% year-on-year growth in March, following a surge in biomedical manufacturing amid the Covid-19 pandemic. The increase comes despite a continued decline in its linchpin electronics and general manufacturing sectors.

Excluding the biomedical sector, output remained unchanged, according to data released on Friday by the Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry (MTI).

The latest data marks the republic’s fastest year-on-year growth since the +20.5% recorded in August 2017. Interestingly, it is a reversal from February’s 1.1% contraction which was deemed the biggest decline in Singapore’s factory since 1983.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now