, Singapore

Manufacturing output up 0.5% YoY in August

It is down 1.2% YoY if biomedical manufacturing is excluded.

The manufacturing output rose 0.5% year-on-year (YoY) in August but declined 1.2% compared to the same period last year when biomedical manufacturing is excluded.

In a statement, the Economic Development Board said the output grew 2% on a seasonally adjustment month-on-month basis, but excluding biomedical manufacturing, it dropped by 2.9%.

READ MORE: Chart of the day: Manufacturing output growth slows down in July

Transport engineering led the increase, rising 32.8% YoY, with the marine & offshore engineering segment increasing by 42.8% YoY and the aerospace segment by 42.3% YoY.

General manufacturing output was up 18.8% YoY, as the food, beverage & tobacco segment swelled by 22.2% on the back of higher beverage and dairy products output, whilst the miscellaneous industries and printing segment rose by 14.3% and 10%, respectively.

Biomedical manufacturing output climbed 11.1% YoY as it saw the medical technology segment increase by 18.9% due to higher medical devices demand from the US and China. The pharmaceuticals segment was up 6.4% because of a different mix of active pharmaceutical ingredients produced.

Precision engineering output inched up 2.9% YoY, with the machinery & systems segment increasing 4.7% due to higher semiconductor-related equipment output. On the other hand, the precision modules and components segment dipped by 1.2% due to lower production of optical products, electronic connectors and bonding wire.

Meanwhile, Electronics output was down 7.8% YoY as all segments posed a decline in output due to softening demand.

The output of the computer peripherals & data storage dipped by 5.3% YoY, semiconductors by 6.6%, infocomms & consumer electronics by 11.7%, and other electronic modules & components segment by 19.3%.

Chemicals output declined by 11.2% YoY, despite seeing an increase of 8.1% in the petroleum segment due to higher demand for jet fuel as global air travel restrictions eased. 

The output of specialties segment contracted by 14% due to lower production of mineral oil additives and industrial gases, whilst the other chemicals segment decreased by 14.1% due to the lower output of fragrances. Petrochemicals were down 16.6% due to plant maintenance shutdowns.

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