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Singapore's manufacturing output growth dips slightly to 14.6% in November

Singapore's manufacturing output growth dips slightly to 14.6% in November

A worker at a manufacturing facility in Singapore. (Photo: TODAY)

SINGAPORE: Singapore's manufacturing output continued to rise in November, although the pace of growth slowed to 14.6 per cent year-on-year, official data on Friday (Dec 24) showed.

In October, manufacturing output had expanded by a revised 17 per cent

Excluding biomedical manufacturing, November's year-on-year output grew 12.4 per cent, the Economic Development Board (EDB) said in a media release.

On a seasonally adjusted month-on-month basis, production increased 2.3 per cent. Excluding biomedical manufacturing, output grew 2.7 per cent.

SLOWER GROWTH IN BIOMEDICAL MANUFACTURING, CHEMICALS, TRANSPORT ENGINEERING

The biomedical manufacturing, chemicals and transport engineering clusters eased in November, while the electronics, precision engineering and general manufacturing industries expanded. 

In transport engineering, production growth eased to 31.2 per cent from October's 35.3 per cent expansion.

The aerospace segment grew 47.1 per cent with higher demand for maintenance, repair and overhaul activities compared to a year ago, when there was widespread grounding of aircraft due to COVID-19 international travel restrictions, said EDB.

The marine and offshore engineering segment also rose 34 per cent, with more work done in shipbuilding and repairing activities, compared to the low base a year ago.

Biomedical manufacturing output expanded 20.1 per cent in November – a drop from October’s 56.8 per cent.

The pharmaceuticals segment rose 31.2 per cent with higher production of active pharmaceutical ingredients.

The medical technology segment, however, decreased 13.1 per cent on the back of lower export demand for medical devices, EDB said.

Chemicals output growth also slowed to 8.5 per cent in November, compared with a 15.3 per cent rise in October, with the specialties segment recording a contraction.

RISE IN ELECTRONICS, PRECISION ENGINEERING AND GENERAL MANUFACTURING

Electronics manufacturing expanded at a faster rate of 10.2 per cent, up from October's 6.7 per cent, due to strong export demand across all segments.

Output in precision engineering also rose at a faster pace of 13.7 per cent in November, up from October's 8.5 per cent, on the back of higher production of semiconductor equipment, industrial process equipment and measuring devices.

The general manufacturing cluster grew 8.8 per cent in November, compared with a 0.4 per cent rise in October, with all segments recording an increase in output .

The cluster’s growth was largely attributed to the miscellaneous industries segment, with higher production of construction-related products, jewellery and wearing apparel, said EDB.

The next monthly manufacturing performance will be released on Jan 26, 2022.  

Source: CNA/ng

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