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SINGAPORE ELECTRONICS INDUSTRY DIRECTORY 2022/2023
T he manufacturing sector remains Under the manufacturing sector, a growing Employment for the electronics industry
a significant player to Singapore’s
economy, as it contributes some 20 to 25 percent of Singapore’s annual gross domestic product (GDP). Singapore is the sixth- largest global exporter of high-tech products. Singapore’s manufacturing production grew 13.8 percent in May 2022 on a year-on-year basis, data released on Friday (24 June 2022) by the Economic Development Board (EDB) indicated.
In the past year, the Singapore Government has directed the manufacturing industry towards the main focus on advanced manufacturing development. As robotics, artificial intelligence, 3D printing, smart sensor and the Internet of Things (IoT) are transforming the manufacturing sector, advanced manufacturing is a burgeoning market expected to reach US$156.6 billion by 2024, growing at a rate of 16.9 percent a year.
and vibrant electronics industry underpins Singapore’s economic growth, and contributes 8 percent to Singapore’s GDP.
On February 2022, Singapore Economic Development Board (EDB) reported that they were able to attract S$11.8 billion in fixed asset investments (FAI) in 2021, which is above their medium- to long-term targets of S$8 million to S$10 million. The investments are expected to create 17,376 new jobs in the coming years with a projected contribution of S$16.8 billion in Value-Added Per Annum, the EDB said.
Of S$11.8 billion FAI commitments in 2021, electronics accounted for more than 42 percent of the total investments, valued at S$5 billion. The investments were largely driven by manufacturing projects in the electronics industry from semiconductor and biotech firms.
in 2021 stands at 74,228, which is 21 percent of total manufacturing jobs. In addition, the manufacturing of finished electronics products creates many spin-offs to other segments of the economy, such as precision component manufacturers, chemicals and materials suppliers, electronic manufacturing systems companies and logistics service providers.
Manufacturing 2030
Early last year, the then Minister for Trade and Industry Mr Chan Chun Sing announced the government’s 10-year “Manufacturing 2030” plan, to grow Singapore’s manufacturing sector by 50 percent of its current value - S$106 billion – while maintaining its share of about 20 percent of GDP.
While speaking to the media after his visit to a precision engineering company Univac on
Where investments are made (Fixed asset investment commitments by industry, 2021)
Electronics Biomedical Manufacturing Research & Development Infocommunications & Media Chemicals Transport Engineering General Manufacturing Industries Headquarters & Professional Services Engineering & Environmental Services Precision Engineering Logistics Education / Healthcare Services
S$4.99b
S$1.77b S$1.45b
S$1.34b S$980m
S$367m S$315m S$280m
S$186m S$69m
S$48m S$4m
0 10 20 30 40 50 (%) Source: Singapore Economic Development Board
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