General manufacturing output dipped 6.3% due to fewer production days during the Lunar New Year.
Singapore’s manufacturing output grew 8.9% YoY in February 2018, the Economic Development Board (EDB) revealed. Excluding biomedical manufacturing, output grew 9.1%.
According to a press release, general manufacturing output fell 6.3% as all segments recorded output declines partly due to fewer production days in February as a result of Lunar New Year. The food, beverages & tobacco, miscellaneous industries and printing segments contracted 4.3%, 6.1% and 15.6% respectively.
Electronics output expanded 17.4% in February 2018 thanks to the robust growth of the semiconductors segment (26.7%). However, it was offset by the output of the infocomms & consumer electronics, data storage and other electronic modules & components segments declined 9.1%, 21.8% and 24.5% respectively.
Biomedical manufacturing output grew 8.4%. Pharmaceuticals output grew 15.2% on the back of higher production in biological products whilst output in the medical technology segment fell 7.2%.
Meanwhile, chemicals output increased 8% YoY thanks to the growth led by the petrochemicals segment which grew 17.0%, on the back of increased production capacities. Petroleum throughput rose 7.8%, whilst the specialities segment hiked 7.1%.
Transport engineering output jumped 5.4% thanks to the aerospace segment (57.2%) backed by higher volume of repair and maintenance work from commercial airlines. By contrast, the land transport and marine & offshore engineering segment contracted 11.5% and 29.4% respectively, where the latter reported lower levels of shipbuilding and repair activities.
Precision engineering output grew 3.4% YoY. The machinery & systems segment grew 6.6%, supported by higher demand for semiconductor related equipment and refrigerating systems. The precision modules & components segment declined 1.6%, with lower output in wire & cable products, and dies, moulds, tools, jigs & fixture due in part to the Chinese New Year holiday.
Do you know more about this story? Contact us anonymously through this link.