Singapore: Computing Machinery Market 2024

Computing Machinery Market Size in Singapore

In 2021, the Singaporean computing machinery market decreased by -3.1% to $X, falling for the second consecutive year after three years of growth. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Computing Machinery Production in Singapore

In value terms, computing machinery production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Computing machinery production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Computing Machinery Exports

Exports from Singapore

In 2021, shipments abroad of computing machinery and parts and accessories thereof increased by 35% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a abrupt descent. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, computing machinery exports surged to $X in 2021. In general, exports, however, showed a noticeable curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Hong Kong SAR (X tons) and Thailand (X tons) were the main destinations of computing machinery exports from Singapore, with a combined 25% share of total exports. These countries were followed by China, Indonesia, Malaysia, India, the Netherlands, Japan, Australia, the Philippines, South Korea and Taiwan (Chinese), which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of -2.1%), while shipments for the other leaders experienced a decline.

In value terms, Hong Kong SAR ($X), the United States ($X) and Japan ($X) appeared to be the largest markets for computing machinery exported from Singapore worldwide, together comprising 25% of total exports. These countries were followed by Thailand, India, China, Indonesia, Malaysia, the Philippines, Australia, South Korea, the Netherlands and Taiwan (Chinese), which together accounted for a further 37%.

India, with a CAGR of +3.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average computing machinery export price stood at $X per ton in 2021, reducing by -8.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. The pace of growth was the most pronounced in 2017 when the average export price increased by 32%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Computing Machinery Imports

Imports into Singapore

In 2021, overseas purchases of computing machinery and parts and accessories thereof increased by 22% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2015 with an increase of 96% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, computing machinery imports rose significantly to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 14%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of computing machinery imports to Singapore, with a combined 56% share of total imports. The United States, Hong Kong SAR, Japan, Thailand, Vietnam and the Philippines lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +1.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Malaysia ($X) and the United States ($X) were the largest computing machinery suppliers to Singapore, together comprising 51% of total imports. Hong Kong SAR, Thailand, Indonesia, the Philippines, Japan and Vietnam lagged somewhat behind, together comprising a further 14%.

Hong Kong SAR, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average computing machinery import price stood at $X per ton in 2021, shrinking by -10.5% against the previous year. In general, the import price, however, enjoyed a mild increase. The most prominent rate of growth was recorded in 2013 an increase of 71%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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