Manufacturing output grew by nearly 14% YoY in May
Without biomedical manufacturing output, it grew by 18%.
Singapore’s manufacturing output went up by 13.8% in May 2022, on a yearly basis, but excluding biomedical manufacturing, it increased by 18%, the Economic Development Board said in its recent figures.
On a seasonally adjusted month-on-month basis, output grew by 10.9% last month. Without biomedical manufacturing, it went up by 9.8%.
Across clusters, only output from chemicals and biomedical manufacturing experienced decrease.
In May 2022, electronics output soared by 33.6% on a yearly basis, transport engineering output grew by 12.9% year-on-year (YoY), general manufacturing output went up by 9% YoY, and precision engineering output increased by 3.2% YoY.
Output for chemicals went down by 3.4% YoY in May 2022 whilst biomedical manufacturing output fell by 7.2% YoY in May 2022.
The other chemicals segment went up by 11.9% with a rise of output for fragrances whilst the specialties segment increased 4.6% on account of higher production of mineral oil additives.
The petroleum and petrochemicals segments shrank by 1% and 14.7%, respectively, with the latter posting lower production on the back of stop in plant maintenance.
On biomedical manufacturing, its output declined by 7.2% in May 2022 on a year-on-year basis. The medical technology segment grew 2.7% with higher demand for medical devices from the US and Europe.
Meanwhile, the pharmaceuticals segment contracted by 14.8% “due to a different mix of active pharmaceutical ingredients being produced."