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Singapore's manufacturing output up 2.1% in April; 6th straight month of growth

Singapore's manufacturing output up 2.1% in April; 6th straight month of growth

An employee makes a final check on a solar panel at a Singapore factory. (File photo: AFP/Roslan Rahman)

SINGAPORE: Singapore's manufacturing output grew for a sixth consecutive month in April, rising 2.1 per cent year-on-year according to official data released on Tuesday (May 25).

Growth was slower than in March, when manufacturing output increased by 7.6 per cent.

Excluding biomedical manufacturing, output grew by 11.1 per cent in April this year, in part due to "circuit breaker" measures in the same month last year, said the Economic Development Board (EDB).

On Tuesday morning, the Ministry of Trade and Industry had announced it was maintaining Singapore's gross domestic product forecast for the year at 4 to 6 per cent, in view of "heightened uncertainties" arising from the COVID-19 pandemic.

READ: Singapore maintains 2021 GDP forecast at 4% to 6% due to 'heightened uncertainties' from COVID-19

PRECISION AND TRANSPORT ENGINEERING RISE

Growth was headlined by precision engineering output, which expanded by 20.4 per cent year-on-year in April.

This was led by the machinery and systems segment growing 27 per cent, supported by higher production of semiconductor equipment due to strong capital investment in the global semiconductor industry, said EDB.

The precision modules and components segment also rose 10.5 per cent.

The transport engineering cluster grew 19 per cent, with the land segment recording a 101.1 per cent surge. This was due to Singapore's "circuit breaker" measures and lockdowns in export markets which adversely affected production last year, said EDB.

The aerospace segment also rose 23.8 per cent from a low base due to the grounding of aircraft amid COVID-19 travel restrictions. The marine and offshore engineering segment contracted 5.9 per cent on the back of weak demand and labour shortages, said the agency.

Other clusters that expanded were general manufacturing by 18 per cent, chemicals by 14.4 per cent and electronics by 6.6 per cent.

BIOMEDICAL MANUFACTURING SLIDES FURTHER

Output in the biomedical manufacturing segment declined for a second consecutive month, falling 22.7 per cent in April.

While the medical technology segment grew 12.7 per cent with higher export demand for medical devices, the pharmaceuticals segment shrank by 24.7 per cent due to a different mix of active pharmaceutical ingredients, said EDB.

On a seasonally adjusted month-on-month basis, overall manufacturing output increased 1 per cent in April. Excluding biomedical manufacturing, output fell 0.6 per cent. 

Source: CNA/dv(ta)

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