Singapore manufacturing output in March up 5.9%

Singapore manufacturing output in March up 5.9%

A manufacturing facility in Singapore. (File photo: AFP/Roslan Rahman)
SINGAPORE: Singapore’s manufacturing output rose 5.9 per cent in March from a year ago, according to figures released by the Economic Development Board (EDB) on Thursday (Apr 26).March’s jump continues an upward trend after manufacturing output increased by 8.9 per cent year-on-year in February.On a seasonally adjusted month-on-month basis, output increased 0.3 per cent last month.Electronics output expanded 12.4 per cent in March compared to the same month last year, led by the semiconductor segment which grew 18.8 per cent. However, most of the other electronics segments recorded a decline in output, said EDB.Precision engineering output grew 10.5 per cent last month compared to a year ago. The precision modules and components segment posted a robust growth of 31.1 per cent, on account of higher production in optical and wire and cable products, said EDB.The machinery and systems segment, on the other hand, fell 0.2 per cent. Higher output growth in semiconductor-related and process control equipment was outweighed by lower output growth in mechanical engineering works and refrigerating systems, said EDB.
The chemical cluster’s output rose 8.2 per cent year-on-year, with all segments recording higher output.Growth was led by the petrochemicals segment, which grew 20.4 per cent on the back of increased production capacities.Petroleum throughput rose 6.4 per cent from March last year, when some plants were shut down for maintenance.Transport engineering output increased 3.5 per cent year-on-year in March. Growth was led by the aerospace segment, which expanded 13.1 per cent with higher volume of repair and maintenance work from commercial airlines, said EDB.In contrast, the marine and offshore engineering segment contracted 6.5 per cent due to lower levels of activity in shipbuilding and repairing, as well as oil field and gas field equipment industries.In addition, general manufacturing output decreased 0.6 per cent in March compared with the same month last year.Food, beverages and tobacco grew 4.4 per cent, but this growth was offset by declines in the miscellaneous industries and printing segments, said EDB.The miscellaneous industries segment recorded lower output of construction-related materials and metal doors, window, grilles and gratings, while demand for commercial printing was weak.Similarly, biomedical manufacturing output declined 5.4 per cent in March compared to a year ago. The medical technology segment contracted 0.4 per cent, while the pharmaceuticals segment fell 7.2 per cent due to a different mix of pharmaceutical products being produced, said EDB.
Source: CNA/nc