Singapore’s manufacturing output declined 4.7% in February on a year-on-year basis, according to the country’s Economic Development Board (EDB).
EDB said excluding biomedical manufacturing, output fell 7.4% in February. While on a seasonally adjusted month-on-month basis, manufacturing output decreased 4.8% compared to the previous month. Excluding biomedical manufacturing, output fell 2.1%.
By cluster, the biomedical manufacturing output expanded 5.8% in February year-on-year. The medical technology segment increased 12.7% on the back of higher export demand for medical devices, while pharmaceuticals output grew 4% with higher production of active pharmaceutical ingredients and biological products. On a year-to-date basis, the biomedical manufacturing cluster increased 17.4% compared to the same period a year ago.
Chemicals output grew 1.2% on a year-on-year basis in February 2016. The other chemicals and specialties segment posted growth of 19% and 2.8%, respectively. Growth in the other chemicals segment was supported by higher output in fragrances. On the other hand, the petrochemicals segment contracted 12.2% mainly due to plant maintenance shutdowns. In the first two months of this year, output of the chemicals cluster fell 1.0% compared to the same period in 2015.
The general manufacturing industries’ output decreased 0.3% in February 2016 on a year-on-year basis. The decline was mainly attributed to the miscellaneous industries segment which saw output fall 4.1%, on the back of lower production of wearing apparels and steel structural components. The printing and food, beverages & tobacco segments registered output growth of 6% and 1%, respectively. On a year-to-date basis, output of the general manufacturing cluster fell 2.1% compared to the same period a year ago.
Output of the precision engineering cluster decreased 7.5% year-on-year in February 2016. The precision modules & components segment contracted 7.4% with lower production of industrial rubber and metal precision components. The machinery & systems segment fell 7.7%, on account of lower output in refrigerating systems and mechanical engineering work. On a year-to-date basis, output of the precision engineering cluster declined 8.9% compared to the same period last year.
Electronics output decreased 8.4% in February compared to the same month last year. Growth in the data storage (5.6%) and other electronic modules & components (5.1%) segments was offset by declines in the rest of the electronic segments. Cumulatively, output of the electronics cluster declined 2.1% from January to February this year compared to the same period last year.
Output in transport engineering fell 14.5% year-on-year in February 2016. The marine & offshore engineering segment remained weak with output falling 23.1%, on account of lower level of rig-building activity and weaker demand for oilfield & gasfield equipment amidst the low oil price environment. The transport engineering cluster decreased 19.1% in the first two months of 2016, compared to the same period last year.
Photo: CEphoto, Uwe Aranas
