Manufacturing
Establishment
An establishment refers to a business or organisational unit that is engaged in one primary economic activity at a single physical location.
Multiple activities at one location: When an organisation operates different economic activities at the same physical address (such as a hotel with a restaurant, retail shop, and conference facilities), each distinct activity is treated as a separate establishment for statistical purposes.
Multiple locations with same activity: When an organisation operates the same type of business at different physical addresses (such as a retail chain with stores in various locations), each location is counted as a separate establishment, even if they share the same ownership, management, or brand name.
Fixed Assets
Produced assets (e.g. buildings and infrastructure, transport equipment, machinery and equipment, and intellectual property products) that are used repeatedly or continuously in production processes for more than one year.
Index of Industrial Production
An index that measures changes in the volume of industrial production with respect to the base year. The index charts the growth in production of each major industry and of the manufacturing sector.
Investment Commitments
Investment projects in terms of fixed assets which companies commit to invest in Singapore. Projects are only recorded as commitments if the company has made a firm undertaking to implement the project.
Manufacturing Output
Refers to the total value of all commodities produced (including by-products) and industrial services rendered during the year.
Materials Used
Cover raw or basic materials, chemicals and packing materials consumed in the production. They refer to the actual consumption during the year.
Net Operating Surplus
Obtained by deducting remuneration, depreciation of fixed assets and indirect taxes from value-added.
Net Value of Fixed Assets
Refers to the gross value net of accumulated depreciation.
Other Operating Costs
Include work-given out, utilities, fuel, transportation charges, rental paid for premises, machinery and transport equipment, repair and servicing of building, machinery, and transport equipment, insurance premium on building, machinery and transport equipment, bank service charge, travelling expenses including own vehicles, telecommunication fees (e.g. postage, printing), share of related company's expenses, preliminary/pre-operating expenses, staff training expenses, recruitment expenses, quality control expenses, guarantee/warranty cost, sundry operating expenses, factory requisite (e.g. tools & consumables), uniforms, cargo handling, delivery and container service, harbour charges, wharfage and dockage, festivals and annual functions for staff, laundry services, professional service charges, advertising, promotional and entertainment expenses, commission and agency fees, third party logistics, royalties and other non-deductible GST paid and other operating expenditure for non-manufacturing activities.
Remuneration
Comprises all forms of compensation provided to employees and includes:
- Wages and salaries including commissions, bonuses and overtime pay before deduction of employee's contribution to CPF or any other deductions, as well as paid annual leave and paid sick leave.
- Employer's contribution to CPF and pension funds, but excludes pension and gratuities paid to retired employees.
- Stock options and other share-based payments given to employees as part of their remuneration package.
- Staff benefits such as medical care, meals, housing, transport, and other benefits-in-kind provided to employees by the firm, but excludes retrenchment benefits, entertainment allowances, cost of staff uniforms, and travel, accommodation, and other daily allowances provided in connection with business travel (i.e. per diems).
Sales and Direct Exports
Refer to local sale or exports to other countries of goods manufactured. Resale of goods not manufactured by the establishments is excluded.
Seasonally Adjusted
Seasonal adjustment is the process of estimating and removing the seasonal and calendar effects from a time series so as to show its underlying trend and short-term movements clearly. The seasonally adjusted time series facilitate a better assessment of their recent movements.
Total Output
Refers to the total value of goods and services derived from a production process and ancillary activities such as management or marketing. As such, it includes manufacturing output and other operating income.
Unit Business Cost Index (UBCI)
Measures the relative cost of producing one unit of real output with respect to the base year. The main components of business cost are labour cost, services cost and non-labour production taxes. The Unit Business Cost Index (UBCI) is compiled on the basis of benchmark data on business cost from the Census of Manufacturing Activities (CMA) and extrapolated using data from the Monthly Survey of Manufacturing Activities (MMA).
Unit Labour Cost
The average cost of labour per unit of real output. It is computed as Total Labour Cost (TLC) per unit of real Gross Value Added (GVA). Total Labour Cost consists of: Compensation of Employees (CoE), Labour income of self-employed, other labour related costs (e.g. Foreign Workers' Levy and net training costs) incurred by employers, and Wage subsidies (e.g. Wage Credit Scheme, Jobs Credit Scheme and Jobs Support Scheme) that are provided to the employers. Wage subsidies reduce labour cost of employers and are netted off from TLC.
Value Added
Gross value added is derived by the output or income approach. The output approach measures value added as output less intermediate consumption. Output refers to the value of goods and services produced while intermediate consumption is value of goods and services consumed as inputs by a process of production, e.g. materials, utilities, fuel, rental paid for premises and equipment, banking and financial charges and other operating costs. The income approach derives value added as the sum of incomes generated from the domestic production of goods and services, which comprise gross operating surplus, remuneration and taxes (less subsidies) on production.
Workers
Refer to all persons engaged in the industrial activity of the establishment, that is, all employees, the self-employed and their relatives. Data generally refer to employment as at 30 June, except where establishments commence operation after June.