Singapore's manufacturing output up 2.2% in January

Singapore's manufacturing output up 2.2% in January

The growth was boosted by the precision engineering cluster, which grew 24 per cent year-on-year last month, EDB says.

SINGAPORE: Singapore's manufacturing output in January rose 2.2 per cent from a year ago, on the back of strong growth in the precision engineering and electronics clusters.

Excluding the more volatile biomedical manufacturing, output grew 7 per cent, according to data released on Friday (Feb 24) by the Singapore Economic Development Board (EDB).

On a month-on-month seasonally-adjusted basis, industrial production fell 6 per cent in January, it added.

Output of the precision engineering sector grew 24 per cent on-year last month, with the machinery and systems segment posting 40.3 per cent growth mainly due to higher export demand for semiconductor-related equipment, EDB said.

The output of the electronics sector also climbed 14.8 per cent over the same period, with the semiconductors and computer peripherals segments growing 25.8 per cent and 3.7 per cent respectively. However, the other segments registered declines, the agency said.

The chemicals cluster's output grew 3.5 per cent year-on-year last month, and the growth was led by the petroleum (20.7 per cent) and petrochemicals (17.4 per cent) segments due in part to the low base last year when there were some plant maintenance shutdowns.

Additionally, declines were seen in the transport engineering (3.8 per cent), biomedical (13.5 per cent) and general manufacturing industries (13.8 per cent) clusters, EDB figures showed.

Source: CNA/kk