Singapore's manufacturing output spikes 21% in July
Workers at a manufacturing facility in Singapore. (File photo: AFP/Roslan Rahman)
SINGAPORE: Boosted by the strong performance in the electronics cluster, Singapore's July manufacturing output was up 21 per cent compared to a year ago - the 12th straight month of growth. Manufacturing output increased 1 per cent month-on-month in July, according to the figures released by the Economic Development Board (EDB) on Friday (Aug 25).
Excluding the more volatile biomedical sector, output went up by 4.9 per cent.Output expanded 13.1 per cent in June and 5 per cent in May compared to the previous year. The electronics cluster’s output increased 49.1 per cent year-on-year. Growth in semiconductors and computer peripherals outperformed the rest of the sector with growth of 67.6 per cent and 18.9 per cent, respectively.However, output of the other electronic modules & components and data storage output declined 5.2 per cent and 27.2 per cent, respectively.
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The chemicals cluster’s output was up by 4.8 per cent, with petrochemicals jumping by 20.3 per cent. The strong growth in petrochemicals was mainly due to the low base in July last year as some plants had maintenance shut down, EDB said.The transport engineering cluster’s output increased 2.3 per cent, aided by an expansion in the land transport and aerospace segments at 21 per cent and 14.1 per cent, respectively.
The marine & offshore engineering segment remained weak though, declining 9.1 per cent.