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Singapore's manufacturing output grows 16.9% in October after decline in previous month

Singapore's manufacturing output grows 16.9% in October after decline in previous month

FILE PHOTO: Biochemists check a bio-reactor used for manufacturing medical products at Takeda Pharmaceuticals (Asia Pacific) in Singapore. (AFP/Roslan Rahman)

SINGAPORE: Singapore's manufacturing output rose in October, after a decline in the month before that, official data on Friday (Nov 26) showed. 

Manufacturing output increased 16.9 per cent year-on-year in October, after a 3.4 per cent fall in September. Excluding biomedical manufacturing, output grew 9.7 per cent, according to the Economic Development Board (EDB). 

On a three-month moving average basis, manufacturing output rose 8 per cent in October compared to a year ago.

On a seasonally adjusted month-on-month basis, manufacturing output
increased 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. However, the medical technology segment fell 3 per cent due to lower demand for medical devices in some export markets. 

Transport engineering output grew 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. 

CHEMICALS OUTPUT GROWS

Chemicals output rose 15.3 per cent year-on-year in October, with all segments recording an increase, said EDB. 

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

The other chemicals segment rose 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. 

Output in precision engineering rose 9.1 per cent in October. The machinery and systems segment grew by 19.6 per cent with higher production of semiconductor equipment to cater to the strong capital investment in the global semiconductor industry. 

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

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

The general manufacturing cluster rose 0.8 per cent in October. Output in the miscellaneous industries segment 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 on account of plant maintenance shutdowns and lower production of milk products due to weaker export demand. 

EDB's next monthly manufacturing performance report will be released on Dec 24. 

Source: CNA/lk(gr)

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