Singapore manufacturing output rises 16.9% in October

Singapore manufacturing output rises 16.9% in October

SINGAPORE: Singapore's manufacturing output went up in October after a decline in the month before that, according to official data released on Friday November 26.

In October, manufacturing output went up 16.9 per cent year-on-year, after a 3.4 per cent fall in September. The Economic Development Board EDB reported that manufacturing output increased by 8 per cent in October compared to a year ago, despite the fact that biomedical manufacturing grew 9.7 per cent.

On a seasonally adjusted month-on-month basis, manufacturing output was adjusted.

The percentage increased by 2.4 per cent. Excluding biomedical manufacturing, output grew 1.5 per cent.

Singapore's biomedical manufacturing cluster grew 56.1 per cent in October compared to the same period last year.

The pharmaceuticals segment grew 93.4 per cent from a low production base last year. The medical technology segment fell 3 per cent due to lower demand for medical devices in some export markets.

Transport engineering output grew by 35.3 per cent in October, with the marine and offshore engineering segment growing 77.6 per cent with a higher level of work done in shipbuilding and repairing activities compared to the low base a year ago.

The aerospace segment grew 26.9 per cent as demand for maintenance, repair and overhaul activities improved compared to a year ago when there was widespread grounding of aircraft due to COVID 19 international travel restrictions, said EDB.

In October, the output of chemicals rose 15.3 per cent year-on-year, with all segments recording an increase, said EDB.

The petrochemicals and petroleum segments increased 16.9 percent and 15.7 percent from a year ago, when production was low due to plant maintenance shutdowns and weak export demand due to the COVID-19 outbreak.

The other chemicals segment grew 11.7 per cent due to higher output in fragrances, while the specialties segment grew 9.3 per cent with higher production of mineral oil additives.

In October, the output of precision engineering went up 9.1 per cent. The machinery and systems segment grew by 19.6 per cent with a higher production of semiconductor equipment to cater to the strong capital investment in the global semiconductor industry.

The precision modules and components segment fell 11.2 per cent, with a lower output of optical products.

Electronics manufacturing increased by 6.5 per cent, with all segments recording a higher level of production.

The general manufacturing cluster increased by 0.8 per cent in October. Output in miscellaneous industries grew 20.2 per cent from a low base last year, when demand for construction-related products was adversely affected by COVID- 19.

However, the printing segment fell 8.2 per cent while the food, beverage and tobacco segment contracted 10.3 per cent due to plant maintenance shutdowns and lower production of milk products due to weaker export demand.

The next manufacturing performance report by the EDB will be released on December 24.