Manufacturing output jumps 16.1% in September on biomed gains

The biomedical manufacturing cluster was the standout performer, expanding 45.9% YoY.

Singapore’s manufacturing output surged 16.1% YoY in September, led by strong gains in the biomedical and electronics clusters, according to data released by the Economic Development Board (EDB).

Excluding the volatile biomedical segment, output rose a more modest 5.4% YoY.

On a seasonally adjusted month-on-month basis, total manufacturing output jumped 26.3%, although growth was far more muted at 0.8% when biomedical manufacturing was excluded.

The three-month moving average of year-on-year growth came in at 5.0%, indicating a broader recovery trend in industrial production.

The biomedical manufacturing cluster was the standout performer, expanding 45.9% YoY. Pharmaceuticals output rose 55.3%, buoyed by higher production of biological products and a different mix of active pharmaceutical ingredients (APIs).

Medical technology output also increased, up 4.8%. For the first nine months of the year, biomedical output was up 5.5%.

Electronics output rose 13.2% YoY, supported by a sharp 80.6% increase in infocomms and consumer electronics, driven by demand for server-related products.

Other electronic modules and components grew 20.2%, whilst semiconductors rose 7.3%. In contrast, computer peripherals and data storage segments contracted 17.3%. Year-to-date, the electronics cluster was up 7.5%.

Transport engineering also posted solid growth of 13.8% YoY, led by a 31.9% rise in the aerospace segment, which EDB attributed to strong parts production and ongoing maintenance, repair, and overhaul (MRO) activity.

Marine and offshore engineering recorded a marginal 1.1% increase, whilst land transport manufacturing fell 20.8%. The cluster was up 16.7% year-to-date.

The chemicals cluster saw a modest 1.2% YoY rise. Petroleum output rose 8.5% on a low base, but other segments were weaker: specialties and other chemicals both declined 4.9%, whilst petrochemicals contracted 9.0% due to plant maintenance. Chemicals output was down 0.2% over the first nine months of the year.

General manufacturing declined 4.7% YoY. Miscellaneous industries and printing posted gains of 5.7% and 3.7% respectively, but these were offset by an 11.9% contraction in food, beverages and tobacco. The sector remained in the red year-to-date, falling 8.8%.

Precision engineering output slipped 5.9% YoY. Whilst the precision modules and components sub-segment grew 16.2%, this was outweighed by a 10.4% drop in machinery and systems, linked to weaker demand for front-end semiconductor equipment. Year-to-date, the cluster posted a 2.7% increase.