Singapore’s manufacturing output increased by 3.4% y-o-y in March, making this the seventh straight month of growth.
Excluding the biomedical manufacturing sector, output surged by 9.7% y-o-y.
On a seasonally adjusted month-on-month (m-o-m) basis, however, manufacturing output fell by 12.6%, reversing from the m-o-m growth seen in February.
Excluding biomedical manufacturing, output fell by 6.1% m-o-m.
The biomedical manufacturing cluster saw output plunge some 26.3% y-o-y as both segments registered contractions in March. The medical technology segment declined by 7.1% y-o-y with lower export demand for medical devices, while the pharmaceuticals segment fell by 39.0% y-o-y due to a different mix of active pharmaceutical ingredients being produced. Year-to-date, output of the biomedical manufacturing cluster fell 6.8% y-o-y.
On the other hand, the transport engineering cluster saw output increase by 20.7% y-o-y, mainly due to the 39.3% y-o-y growth in the aerospace segment. The segment saw its output increase due to a higher production of aircraft parts and more maintenance, repair and overhaul jobs from commercial airlines. The marine & offshore engineering segment rose 7.9% y-o-y with a higher level of work done in offshore projects. Year-to-date, the cluster’s output increased by 13.8% y-o-y.
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Output for the electronics cluster grew by 14.5% y-o-y with all segments – except the computer peripherals and data storage segment – recording output expansions. The semiconductors segment, in particular, grew by 17.3%, supported by sustained demand from 5G markets and data centres amid the global chip shortage. The electronics cluster grew 14.6% y-o-y year-to-date.
Output for the general manufacturing cluster rose 10.2% y-o-y in March with all segments seeing output growth. The food, beverage & tobacco segment expanded 15.2% with higher output of beverage products, milk products and animal feed. The miscellaneous and printing segments grew by 3.2% and 0.8% y-o-y respectively. During the month, the miscellaneous segment recorded a higher production of construction-related products, wearing apparel and jewellery. Year-to-date, the general manufacturing industries cluster grew by 12.7% y-o-y.
The chemicals cluster saw output grew by 0.8% y-o-y in March, led by the other chemicals segment, which grew by 54.2% due to a higher output of fragrances. The petroleum segment rose 3.8% y-o-y. The output growth was offset by declines in the specialties and petrochemicals segments, which fell by 1.2% and 16.0% y-o-y respectively. The latter recorded lower production due to plant maintenance shutdowns. Year-to-date, the chemicals cluster saw output fall by 1.2% y-o-y.
Output for the precision engineering cluster fell by 1.4% y-o-y in March with all segments registering declines. The machinery & systems segment fell 0.5% y-o-y from the high production base a year ago, while the precision modules & components segment contracted by 2.9% y-o-y with the lower production of optical products and wire & cable products. The cluster grew by 3.6% y-o-y overall on a year-to-date basis.
