Home » Breaking News, Customs & Trade » Singapore’s factory output slows down

640px-Singapore_SkylineManufacturing production by Singapore declined in November on both year-on-year and month-on-month basis for all segments except chemicals, according to a new release from the Economic Development Board (EDB).

The manufacturing output fell 5.5% on a year-on-year basis, and slid 3.6% month-on-month in November, according to the EDB.

On a three-month moving average basis, output contracted 4.8% compared to a year ago. On a month-on-month basis, the decrease was 3.6%.

By cluster, output of the chemicals cluster increased 11.6% in November from a year ago. Petroleum and petrochemicals grew 20.9% and 12.2%, respectively, due to the low base effect last year as some plants shut down for maintenance. Specialties grew 12.2% on the back of expanded production. On the other hand, the other chemicals segment declined 6% due to lower demand for glass products. On a year-to-date basis, output of this cluster rose 4.3% against the same period of the preceding year.

Meanwhile, output of the biomedical manufacturing cluster fell 1.3% in November year-on-year.  The medical technology segment grew 25.4%, but this was offset by a 9% decline in the pharmaceuticals segment on lower production of active pharmaceutical ingredients and biological products. In the first 11 months of this year, output of this segment decreased 4.2% compared to the same period in 2014.

The precision engineering cluster decreased 4.3% in output in November year-on-year. Machinery & systems fell 0.8% due to lower demand for back-end semiconductor equipment, hydraulic equipment, and mechanical engineering works. Precision modules & components declined 8.3% as production of industrial rubber, metal precision components and dies, molds, jigs and fixtures slowed. In the first 11 months of this year, output declined 3.9% compared to the same period in 2014.

The general manufacturing cluster’s output decreased 4.3% year-on-year in November, with the miscellaneous industries and printing segments recording output declines of 7.3% and 7.5%, respectively.  The decline for miscellaneous industries arose from lower output in paperboard boxes, structural metal components, and metal tanks & containers. In contrast, food, beverages & tobacco registered an increase of 2.7% due to festive demand. Cumulatively, output contracted 1.7% from January to November this year compared to the same period in 2014.

Output of the transport engineering cluster declined 11.2% on a year-on-year basis, weighed down by marine & offshore engineering and land transport segments. The marine & offshore engineering segment was affected by lower levels of rig-building activities, as well as weaker demand for oilfield & gasfield equipment amid low oil prices. Aerospace recorded an increase of 17.6% on account of more engine repair jobs. On a year-to-date basis, transport engineering contracted 10.5% compared to the same period a year ago.

The electronics cluster’s output fell 11.1% year-on-year in November. The other electronic modules & components and data storage segments grew 37.1% and 7.1%, respectively, while the rest of the electronics segments registered output declines. Cumulatively, output decreased 5.9% compared to the same period last year.

Photo: JeCCo

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