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3 Best (And 1 Worst) Performing Business Sectors For SMEs In 4Q2021

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In 4Q2021, Singapore's economy grew 5.9%, underpinned by strength in the manufacturing, which grew 14.0%.

OCBC SME Index 4Q2021 best and worst performing sectors

Nevertheless, the economy is generally upbeat. Based on latest figures from the Ministry of Trade and Industry ,in the whole of 2021. In 4Q2021, it grew 5.9%, underpinned by strength in the Manufacturing, which grew 14.0%, as well as Information & Communication, Finance & Insurance and Professional Services, which grew 6.0%.

The Precision Engineering sector scored 53.1 in the OCBC SME Index, underlining the importance of higher value manufacturing. Albeit, the other sub-sectors continue to show resilient growth numbers.However, the OCBC SME Index report did caution that growth in the sector could moderate in light of a slowdown in China, and exacerbated by rising input and shipping costs.OCBC SME Index score: 54.3

 

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