Feature Articles
Economic Contribution of Factoryless Goods Producing Firms in Singapore
13 August 2018
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Given their rising global prominence, this article takes an in-depth look at factoryless goods producing firms in Singapore by examining their economic contribution to the Singapore economy.
With the fragmentation of global value chains, firms can participate in different stages of the production value chain
Over the years, production value chains have become fragmented as firms seek to take advantage of the comparative advantages of different locations, and/or to exploit economies of scale by specialising in one or multiple stages of the production process.
Today, the different activities in a production value chain can be performed by a single firm or many different firms, and the activities can take place in different locations within a country or across country borders (Bernard and Fort, 2013).