Singapore's manufacturing output contracts for the first time in almost a year

SINGAPORE: Singapore's manufacturing output declined for the first time in almost a year in September, largely attributable to the prescription drugs phase, official knowledge on Tuesday (Oct 26) confirmed.

Factory output fell 3.4 per cent year-on-year in September, after rising a revised 11 per cent in August. This is the first time manufacturing output has posted a decline since October final year, when manufacturing contracted 0.4 per cent.

Excluding biomedical manufacturing, output grew 9.4 per cent in September, in line with Economic Development Board (EDB) figures. 

BIOMEDICAL DOWN 

Singapore’s biomedical manufacturing cluster contracted 35.9 per cent in September, extending the earlier month's 1.7 per cent decline.

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The medical know-how phase rose 2.4 per cent with sustained export demand for medical gadgets. The prescription drugs phase, nevertheless, declined 46.2 per cent attributable to a totally different mixture of lively pharmaceutical components being produced in comparison with a year in the past, EDB mentioned. 

SLOWER GROWTH IN ELECTRONICS CLUSTER

Electronics manufacturing rose 4.9 per cent, slower than the earlier month's 15.4 per cent enlargement. All segments posted development besides for pc peripherals and knowledge storage. 

Chemicals output rose 12.4 per cent, extending August's 0.7 per cent rise. The petroleum and petrochemicals segments grew 26.1 per cent and 18.6 per cent respectively from a year in the past, recovering from plant upkeep shutdowns and weaker export demand amid the COVID-19 pandemic. 

Output in precision engineering rose 30.2 per cent in September. All segments grew, with the equipment and programs phase rising by 38.4 per cent and the precision modules and parts by 13.5 per cent. 

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The transport engineering cluster elevated 12.9 per cent in September, with the aerospace phase climbing 21.7 per cent and the marine and offshore phase rising 9.9 per cent. 

This is because of growing exercise in aerospace companies and shipyards in comparison with final year, when the industries have been affected by worldwide journey restrictions and the weak international oil and gasoline market respectively amid the COVID-19 pandemic, EDB mentioned. 

The normal manufacturing cluster contracted 2.7 per cent in September, pushed by a fall in the printing and meals, beverage and tobacco segments, which fell 14.5 per cent and 16 per cent, respectively. 

However, output in the miscellaneous industries phase grew 21 per cent from a low base final year, when demand for construction-related merchandise was adversely affected by COVID-19.

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EDB's subsequent month-to-month manufacturing efficiency can be launched on Nov 26.