Singapore manufacturing faces sharpest spike in closures in 2025

Monthly registrations were steady, but annual closures in manufacturing exceed new business formation in 2025.

The Singapore manufacturing sector recorded 2,518 business closures in 2025, the highest annual figure in 15 years outside of the 2005 administrative spike, according to data from Singapore's Accounting and Corporate Regulatory Authority (ACRA).

This is against 2,302 closures recorded in 2024 and 2,265 in 2023, ACRA added.

Monthly formation data for 2025 shows that 2,610 new manufacturing businesses were registered across the year. 

Historical data shows closures were lowest during the pandemic in 2020, with 1,631 firms ceasing operations, and rose steadily after 2021. December 2024 saw a dip in new formations to 128 businesses, attributed to a temporary suspension of ACRA’s Bizfile portal for system migration.