Singapore’s manufacturing output records slower growth of 2.2% in June


SINGAPORE: Singapore’s manufacturing output grew at a slower pace of 2.2 per cent year-on-year in June, dragged by decreases in semiconductor production and pharmaceutical output.

Excluding biomedical manufacturing, factory output in June grew 4.2 per cent year-on-year, data from the Economic Development Board (EDB) showed on Tuesday (Jul 26).

June’s growth is slower than the revised 10.4 per cent year-on-year growth in May.

On a seasonally adjusted month-on-month basis, manufacturing output fell 8.5 per cent in June. Excluding biomedical manufacturing, output declined 6.9 per cent.

CLUSTERS

Output in the transport engineering cluster grew the most in June, expanding 32 per cent year-on-year. The marine and offshore engineering segment rose 44 per cent, supported by a higher level of work done in ship repair and offshore projects.

The aerospace segment saw a growth of 32.2 per cent, on account of higher production of aircraft parts and more maintenance, repair and overhaul jobs from commercial airlines with the easing of global air travel restrictions, said EDB.

“In the first six months of this year, output of the transport engineering cluster expanded 17.7 per cent compared to the same period in 2021,” said the development board in a media release.

General manufacturing output grew 10.1 per cent in June, with all segments recording an increase in output.

The printing and food, beverage and tobacco segments grew 12.2 per cent and 9.7 per cent respectively, with the latter recording higher output of beverage and milk products.

The miscellaneous industries segment rose 9.5 per cent with higher production of structural metal products and apparel.

Output for the precision engineering cluster grew 5.6 per cent year-on-year in June. The machinery and systems segment grew 6.4 per cent, attributed largely to the higher output of semiconductor related equipment.

The precision modules and components segment rose 4.7 per cent with higher production of plastic and metal precision components.

Electronics output increase 2.3 per cent year-on-year in June. The infocomms and consumer electronics segment, as well as the computer peripherals and data storage segment recorded output increases of 38.3 per cent and 4.7 per cent respectively.

However, output of the semiconductors segment fell 2.6 per cent while the other electronic modules and components segment fell 23.5 per cent with lower export orders from China.

The biomedical manufacturing cluster saw a decline in output in June, falling 9.2 per cent year-on-year. The pharmaceuticals segment contracted 24.9 per cent due to a different mix of active pharmaceutical ingredients being produced, said EDB.

However, the medical technology segment grew 14.3 per cent, with higher demand for medical devices from the US and China.

Output in the chemicals cluster decreased 11 per cent in June compared to the same period last year. The specialties segment grew 3.9 per cent on account of higher production of food additives.

Output of the petroleum, petrochemicals and other chemicals segments declined 2.4 per cent, 15.7 per cent and 27.6 per cent respectively.

The petrochemicals segment also recorded lower production amid plant maintenance shutdowns while the other chemicals segment reported lower output of fragrances, said EDB.

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