Manufacturing output down 6.9% in April
The biomedical manufacturing segment saw its output fall 11.1% during the period.
Singapore’s manufacturing output fell 6.9% in April compared to the same month in 2022, according to the latest data released by EDB Singapore.
Compared to March, output is also 1.9% lower in April, a bulk of which was due to biomedical manufacturing output falling by 11.1% during the period. Excluding biomedical manufacturing, April’s manufacturing output is 2.2% higher than in March.
The medical technology segment contracted 7.2% in April compared to the previous month, due to lower demand for medical devices from the US and Europe. Output of the pharmaceuticals segment also dropped 14.1%. EDB Singapore said that this was due to “a different mix of active pharmaceutical ingredients being produced compared to a year ago.”
Output of the chemicals segment also fell 6.2% during the period. Whilst the petroleum segment’s output rose 5.3% – on the back of jet fuel demand rising– the other chemicals segment and specialties segment fell by 3.9% and 8.2%, respectively, due to lower output of fragrances, mineral oil, and food additives.
The output of the petrochemicals segment dropped by 8.4% amidst weak market demand.
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The general manufacturing segment also reported declines, with output falling by 7.6% in April compared to the same month in 2022. Output of the food, beverages & tobacco segment fell 2.1% due to lower production in most industries except for milk powder and beverage concentrates.
The miscellaneous industries and printing segments also contracted by 13.7% and 15.2% respectively. The miscellaneous industries suffered from lower production of batteries, structural metals, and wearing apparel, EDB Singapore said.
The electronics segment saw its output fall by 8.7% during the period, on the back of declining demand.
In contrast, output from the transport engineering segment rose 14.5% in April compared to a year earlier. The marine & offshore engineering segment saw output expand 24.2%, supported by a higher level of activities in the shipyards as well as increased production of oil & gas field equipment, according to EDB Singapore.
The aerospace segment also grew 16.1% with more maintenance, repair and overhaul (MRO) jobs from commercial airlines as global air traffic recovered.