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Singapore’s manufacturing output up by 1.0% y-o-y in November

Felicia Tan
Felicia Tan • 2 min read
Singapore’s manufacturing output up by 1.0% y-o-y in November
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Singapore’s manufacturing output increased by 1.0% y-o-y in November as output across all clusters – except biomedical manufacturing and precision engineering – increased.

Excluding biomedical manufacturing, the country’s output increased by 1.9% y-o-y

On a seasonally adjusted m-o-m basis, manufacturing output fell by 7.8% and 9.4% excluding biomedical manufacturing.

Output for the electronics cluster grew by 7.3% y-o-y in November as infocomms & consumer electronics, semiconductors and other electronics modules and components segments grew. At the same time, computers peripherals & data storage fell. On a year-to-date (ytd) basis, the electronics cluster contracted by 3.7%.

Output for transport engineering increased by 7.2% y-o-y in November mainly due to the marine & offshore engineering segment, which expanded due to a higher level of activity in the shipyards as well as increased production in oil & gas field equipment. Output from the aerospace segment was similar on a y-o-y basis while the land segment contracted 15.3%. Ytd, the cluster grew by 16.5%.

Output in general manufacturing increased by 3.2% y-o-y as the food, beverages & tobacco segment led by a higher production of beverage products. This offset the declines in the miscellaneous industries and printing segments. Ytd, the output of the general manufacturing industries cluster fell by 4.8%.

See also: Singapore keeps 2024 GDP growth forecast at 1% to 3%; expects gradual manufacturing and trade recovery

Output for the chemicals cluster increased by 2.7% y-o-y as other chemicals and specialties as well as the petroleum segments expanded. Meanwhile, the petrochemicals segment fell due to weak market demand and some plant maintenance shutdowns. Ytd, the cluster contracted by 7.6%.

Output for biomedical engineering fell by 0.7% y-o-y with output for the pharmaceutical segment contracting by 6.0% y-o-y. This was mitigated by the expansion in the medical technology segment. Overall, output for the biomedical manufacturing cluster fell by 5.6% y-o-y ytd.

Output for precision engineering fell by 14.1% y-o-y as precision modules & components segment contracted on account of lower output in plastic and metal precision components, optical instruments as well as dies, moulds, tools, jigs and fixtures. The machinery & systems segment also declined, this time, due to the lower production of semiconductor-related equipment. Ytd, the cluster contracted by 8.3%.

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