The Business Times
business-time-50
OUTLOOK 2023
·
SUBSCRIBERS

Bleak outlook for Singapore’s electronics, semicon manufacturing amid global slowdown

google-preferred-sourceAdd BT as a preferred source
Paige Lim

Paige Lim

Published Mon, Jan 2, 2023 · 06:17 AM
    • Part of the weak outlook is due to semiconductors, which contribute about a third of Singapore's electronics output.
    • Part of the weak outlook is due to semiconductors, which contribute about a third of Singapore's electronics output. PHOTO: BLOOMBERG

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    ELECTRONICS manufacturing in Singapore is expected to decline in 2023 as the industry’s global slowdown continues, amid challenging macroeconomic conditions and weaker external demand for consumer electronics.

    And with electronics comprising 40 per cent of total manufacturing, the overall sector may only rebound in 2024 when the global economy improves, said Maybank Kim Eng analyst Lee Ju Ye.

    OCBC chief economist Selena Ling expects manufacturing growth to flatline for the full year in 2023, with a likely contraction in the first quarter or half, before stabilising in the second half.

    semiconductorsSingapore manufacturingSingapore economySingapore electronicsSpotlight

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    The yen weakened to a low of 125.33 yen per Singdollar on April 13, before recovering slightly to about 124.91 on April 15.

    Singaporeans can now buy record amount of yen per Singdollar

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    With the move, Ensign InfoSecurity will be reclassified as an associated company of StarHub, rather than a subsidiary.

    StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More