SINGAPORE’S MANUFACTURING OUTPUT RISES 17.9 PCT IN JAN
SINGAPORE, Feb 26 Singapore’s manufacturing sector got off to a good start in 2018, with output rising 17.9 per cent in January compared to the same month a year ago, according to figures released by the Economic Development Board (EDB) on Monday (Feb 26).
January’s jump comes after manufacturing output declined by a revised 3.4 per cent in December, the first contraction since July 2016.
On a seasonally adjusted month-on-month basis, manufacturing output increased 6.7 per cent last month.
Electronics output expanded 32.4 per cent, compared to the same month last year, EDB said. The semiconductor, infocomms and consumer electronics, and computer peripherals segments posted growth of 41.8 per cent, 20.3 per cent and 9.6 per cent respectively.
In contrast, output of other electronic modules and components declined 6.8 per cent while data storage output fell 29.2 per cent.
Production by the precision engineering cluster grew 24.5 per cent year-on-year. The precision modules and components segment posted robust growth of 36.7 per cent, with higher production in optical products and dies, moulds, tools, jigs and fixture, EDB said.
The machinery and systems segment grew 18 per cent, supported by higher demand for back-end semiconductor equipment, industrial process control equipment and refrigerating systems.
The chemicals cluster’s output rose 13.7 per cent, with all segments recording output growth. Growth was led by the other chemicals and petrochemicals segments, which grew 19.5 per cent and 14.2 per cent respectively.
Output by the general manufacturing cluster increased 11.6 per cent on a year-on-year basis. The food, beverages and tobacco segment grew 18.3 per cent, on account of higher production in infant milk products and beverage products.
The biomedical manufacturing cluster’s output grew by a more moderate 2.5 per cent. EDB said the medical technology segment posted robust growth of 22.8 per cent on the back of strong export demand for medical devices.
“On the other hand, pharmaceuticals output decreased 3.9 per cent due to lower production of active pharmaceutical ingredients,” EDB added.
Output in the transport engineering cluster rose 1.4 per cent year-on-year, led by the aerospace and land transport segments which expanded 23.5 per cent and 18.1 per cent respectively.
EDB said the aerospace segment recorded higher volume of repair and maintenance work from commercial airlines.
In contrast, the marine and offshore engineering segment contracted 19.5 per cent, on the back of low levels of shipbuilding and repair activities, it said. — NNN-CNA
Source: NAM News Network