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Measuring Manufacturing Production - Singapore

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)

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Measuring Manufacturing Production - Singapore

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

  2. 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

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

  4. Profile of Manufacturing Industry

  5. Trends in Economic Structure, 1960-2008

  6. GDP by Industry at Current Prices, 2008

  7. Structure of Manufacturing Industry • Major economic sector • Change in structure over time

  8. Quarterly and Annual VA Compilation

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

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

  11. Index of Industrial Production (IIP) • Compiled based on a fixed basket of industries, commodities and weight-pattern • Rebased about once every 3 - 4 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

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

  13. Census of Manufacturing Activities (CMA) • 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

  14. 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

  15. 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

  16. Thank You

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