4.2. PE productivity roadmap in 2011

also the third largest sector in terms of employment size, providing 90 thousand of jobs (or 22% of the total in manufacturing). Having large employment size but smaller value added share also indicates that in terms of labour productivity it was significantly behind the average productivity in the manufacturing sector in Singapore, with 100.000 SGD value added per worker as compared to the average manufacturing value added per worker of 171.000 SGD. For the performance analysis of the sector, a potential source is the annual economic survey of Singapore, which however provides precision engineering industry breakdowns different than the ones used for policy analysis: i.e. machinery & systems sub-sector and precision modules & components sub-sector.

The analysis of recent performance of the sector must also take note of a significant change between 2010 and 2011. Notably, the total output of the sector (and more specifically in the machinery and systems sub-sector) jumped in one year from 14 billion SGD to almost 22 billion SGD as well as the added value jumped from 3.6 billion SGD to 5.4 billion SGD, without corresponding change in employment or remuneration, highly elevating output or productivity figures but without a corresponding change for jobs. This uncertain change complicates any comparisons between the performance figures before and after 2011. Furthermore, there is a substantial cyclical element in the performance of the sector.

Table 20. The performance of precision engineering industry since 2011.

Indicator Sector Average 20112012 Average 20142015 Growth, %

Employment ('000)

Remuneration (billion SGD)

Total output (billion SGD) Total

94,006 92,221 -2% Machinery & systems 42,563 46,608 10% Precision modules & components 51,444 45,613 -11% Total 4,159 4,502 8% Machinery & systems 2,183 2,570 18% Precision modules & components 1,977 1,933 -2% Total 34,352 33,553 -2% Machinery & systems 22,878 22,999 1% Precision modules & components 11,474 10,554 -8%

Value added (billion SGD) Total

8,286 8,972 8% Machinery & systems 4,905 5,504 12% Precision modules & components 3,382 3,469 3%

Value added per worker (thousand SGD)

Total 88 97 10% Machinery & systems 115 118 2% Precision modules & components 66 76 16% Source: Economic Survey of Singapore, MTI

4.2.PE productivity roadmap in 2011

Following the conclusions in 2010 of the Economic Strategies Committee and with the lead of newly established National Productivity and Continuing Education Council (NPCEC) an effort took place to support productivity growth via some horizontal initiatives as well as development of sector-specific productivity development strategies. The aim was to develop up to 17 such sector-specific productivity development strategies (“productivity roadmaps”) between 2010 and 2014, even though by 2015 there was public information about up to 11 such roadmaps. Precision engineering (PE) industry was

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