Singapore’s manufacturing output surges in October as biomedical jumps

The biomedical cluster led the gains with an 89.6% jump, driven by a 122.9% surge in pharmaceuticals.

Singapore’s manufacturing output rose sharply in October, with total production up 29.1% YoY, according to the Economic Development Board.

Excluding biomedical manufacturing, output increased 15.8%. On a seasonally adjusted basis, output grew 11.5% MoM (11.7% excluding biomedical), whilst the three-month moving average climbed 12.2% YoY.

The biomedical cluster led the gains with an 89.6% jump, driven by a 122.9% surge in pharmaceuticals on the back of higher API and biologics production. Medical technology output rose 7.3%. For the first ten months of the year, biomedical output was up 16.2%.

Transport engineering expanded 29.5% YoY. Aerospace output grew 50.6% on strong maintenance, repair, and overhaul activity and parts demand. Marine and offshore engineering increased 7.0%, whilst land transport fell 23.9%. Year to date, the cluster rose 18.0%.

Electronics production increased 26.9%. Infocomms and consumer electronics surged 155.6%, supported by servers and related products.

Semiconductors were up 17.0%, peripherals and data storage gained 0.5%, and other electronic modules fell 5.7%. The cluster posted 10.1% growth year to date.

Precision engineering grew 12.2%, with machinery and systems up 13.9% on demand for semiconductor equipment and process control systems. Precision modules and components increased 5.7%. Year to date, the cluster rose 3.7%.

The chemicals cluster edged up 2.2%. Specialties grew 42.8% from a low base, whilst other chemicals dipped 0.2%. Petroleum output was down 2.5%, and petrochemicals fell 17.8% due to plant shutdowns. For the year to date, chemicals registered a 0.2% growth.

General manufacturing declined 5.6%, with food, beverages, and tobacco down 8.2%, printing down 3.2%, and miscellaneous industries down 2.3%. Year to date, the cluster contracted 9.2%.