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SINGAPORE ECONOMY

Services rely on growth in manufacturing, but it doesn't cut both ways

Fri, Nov 24, 2017 - 5:50 AM
nishar@sph.com.sg@Nisha_BT

BP_manufacturing_241117_12.jpg
The manufacturing sector creates more jobs and fosters more economic spillovers to the services sector than the converse, said a report by lead economist Kuan Ming Leong from the Ministry of Trade and Industry's Economics Division.
PHOTO: REUTERS

Singapore

THE manufacturing and services sectors have served as the twin engines fuelling Singapore's economic growth, but the development of the services sector has typically been more reliant on the growth of the manufacturing sector than the other way around.

The manufacturing...

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