Singapore Manufacturing Output Exceeds Forecasts

Singapore’s manufacturing production surged 16.6% year-on-year in January 2026, accelerating from an upwardly revised 10.9% gain and surpassing market expectations of 11% growth. Electronics output soared to 44% from 19.6% in December, largely driven by a sharp expansion in semiconductors (52% vs 20.5%). Overall growth was also supported by stronger performances in chemicals (2.3% vs 1.3%) and precision engineering (13.2% vs 8.1%). On the other hand, production contracted sharply in biomedical manufacturing (-33.1% vs -10.9%), while growth slightly eased in transport engineering (25.2% vs 26.4%). In addition, output in general manufacturing industries fell (-2.6% vs 0.4%). On a monthly basis, output rose 5.3%, rebounding from a 13.3% fall in the previous month. Excluding biomedical manufacturing, manufacturing production climbed to 24.1% in January 2026, from 13.1% in the prior month.