Singapore’s manufacturing output grows by 8.5% in November 2024

In electronics, output increased 26.2% YoY.

Singapore’s manufacturing output increased by 8.5% in November 2024 on a year-on-year (YoY) basis.

Excluding biomedical manufacturing, output increased by 13%. On a seasonally adjusted month-on-month basis, manufacturing output decreased by 0.4% during the period.

In electronics, output increased by 26.2% YoY with the semiconductors, computer peripherals and data storage, and infocomms and consumer electronics segments growing by 28.8%, 23.6%, and 8.7% respectively.

As for precision engineering, output increased by 0.6% YoY with the machinery and systems segment increasing by 4.3%, led by higher production of front-end semiconductor equipment.

The chemicals markets saw a decline of 1.1% due to other chemicals decreasing by 5% with a lower output of fragrances and the specialties segment contracting by 28%. This offset the petroleum and petrochemicals segments, which grew by 11.3% and 1.1% respectively.

Additionally, transport engineering dipped by 1.8%. Whilst the aerospace segment grew by 20.9%, the land, marine and offshore engineering segments decreased by 12.8% and 24.9%, respectively.

Furthermore, general manufacturing output decreased by 2.6% with all segments, including printing and food, and beverages and tobacco, recording output declines.

Lastly, biomedical manufacturing contracted by 21.2%. The medical technology segment grew by 5.8%, however, the pharmaceuticals segment declined by 37.1%.