Singapore's manufacturing output climbs 2% y-o-y in January 2022

However, on a seasonally adjusted month-on-month (m-o-m) basis, manufacturing output fell by 10.7%.

Excluding biomedical manufacturing, output fell a mere 0.2% m-o-m in contrast.

In January, the general manufacturing cluster saw output increase by 17.4% y-o-y with all segments recording output growth.

Transport engineering output grew 16.2% y-o-y during the month, on the back of increased outputs across all segments. The aerospace segment logged y-o-y growth due to the easing global restrictions while the marine & offshore engineering segment saw y-o-y growth thanks to a higher level of work done in shipbuilding & repairing activities.

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Output for the precision engineering cluster expanded 11.6% y-o-y in January, as machinery & systems segment grew 20.5% due to the higher output of semiconductor equipment, machine tools & accessories and measuring devices. Meanwhile, the precision modules & components segment declined 5.7% with lower output of optical products.

Electronics output inched 0.1% y-o-y higher from the high production base from a year ago. The growth was due to output increases from the infocomms & consumer electronics and other electronic modules & components segments, which were offset by declines in the semiconductors and computer peripherals & data storage segments.

Chemicals output fell 2.3% y-o-y in January, as the chemicals segment declined due to lower output in fragrances. The lower figures were mitigated by growths in petroleum refining and specialties and petrochemicals segments.

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Output for the biomedical manufacturing cluster fell 10.6% y-o-y in January. While the medical technology segment expanded with higher export demand for medical devices, the pharmaceuticals segment saw output drop due to the lower production of biological products.

Photo: File photo