Measuring Manufacturing Production - Singapore Presentation at International Workshop “From Data to Accounts: Measuring Production in National Accounting”

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Presentation transcript:

Measuring Manufacturing Production - Singapore Presentation at International Workshop “From Data to Accounts: Measuring Production in National Accounting” 9 Jun 09

Statistical System Singapore Department of Statistics (SDOS)  Central statistical authority responsible for official statistics on Singapore’s economy and population Decentralised statistical system  Official statistics collected and compiled by the SDOS and Research and Statistics Units (RSUs) in various government ministries and statutory boards  RSUs specialise in statistics on key areas under the purview of their parent organisations

GDP by Production Approach Industrial classification  Singapore Standard Industrial Classification (SSIC) 2005  Based on ISIC Rev. 4 Current base year: 2000

Profile of Manufacturing Industry

Trends in Economic Structure,

GDP by Industry at Current Prices, (S$ million) Share of GVA (%) GDP at Current Market Prices257,418.5 Goods Producing Industries67, Manufacturing50, Construction13, Utilities3, Other Goods Industries Services Producing Industries178, Wholesale & Retail Trade44, Transport & Storage23, Hotels & Restaurants5, Information & Communications9, Financial Services33, Business Services36, Other Services Industries25, Ownership of Dwellings13, Less: FISIM16,730.1 Gross Value Added At Basic Prices242,156.1 Add: Taxes on Products15,262.4

Structure of Manufacturing Industry Major economic sector Change in structure over time Manufacturing Clusters Share of Nominal Manufacturing VA (%) Total Manufacturing100.0 Electronics Chemicals Biomedical Manufacturing Precision Engineering Transport Engineering General Manufacturing Industries

Quarterly and Annual VA Compilation

Quarterly Constant Price VA Quarterly Current Price VA Singapore Manufactured Products Price Index Index of Industrial Production Base Year (reconciled) VA Annual Constant Price VA Annual Current Price VA Benchmarked Annual Current Price VA Census of Manufacturing Activities

Monthly index of real manufacturing output Main indicator of manufacturing performance Available about one month after reference month Index of Industrial Production (IIP)

Compiled based on a fixed basket of industries, commodities and weight-pattern Rebased about once every years to reflect the latest structure of Singapore’s manufacturing sector  Current base year is 2007 Compiled by RSU in Economic Development Board  Specialises in manufacturing statistics Index of Industrial Production (IIP)

Monthly price index measuring changes in prices of goods produced by local manufacturers Available about one month after reference month Singapore Manufactured Products Price Index (SMPPI)

Annual current price VA estimates are benchmarked against CMA Preliminary principal statistics e.g. total output, employment and VA are available 2 months after reference year Breakdown of current price VA into output and intermediate consumption can be obtained from CMA Census of Manufacturing Activities (CMA)

Improvements and Challenges Rapidly changing structure of industry  Need for indicators to remain relevant  Frequent rebasing of IIP  Move towards annual chain-linking of IIP Improving response rate of surveys by increasing ease of response  Varied modes of submission via internet, fax etc  Allowing respondents to report in their home currencies

Improvements and Challenges Difficulties in measuring output for certain industries  E.g. pharmaceuticals: lumpy production, changes in product-mix result in volatility in pharmaceutical output Lack of suitable price deflators for some industrial services e.g. ship-building, ship- repairing

Thank You