Singapore’s industrial production grows 24.2pc in September

SINGAPORE (XINHUA) – Singapore Economic Development Board reported yesterday that the country’s manufacturing output grew 24.2 per cent year on year in September, compared to a revised 15.4 per cent rise in August.

Excluding biomedical manufacturing, the output grew 8.5 per cent in September from a year ago.

On a seasonally adjusted month-on-month basis, Singapore’s manufacturing output increased by 10.1 per cent in September. Excluding biomedical manufacturing, the output fell by 1.6 per cent.

As for the performance of different clusters, the electronics cluster’s output grew 30.1 per cent year-on-year in September, compared to a revised 45.3 per cent increase in August.

The cluster’s growth was led by the semiconductors segment which grew 37.4 per cent, supported by demand from cloud services, data centres and the 5G market.

The biomedical manufacturing cluster saw its output jump 89.8 per cent in September, compared to a revised 12.2 per cent rise in August. In a breakdown, pharmaceutical output grew 113.6 per cent with higher output of active pharmaceutical ingredients and biological products, while the medical technology segment grew 15 per cent with higher export demand for medical instruments.

The precision engineering cluster’s output declined by 1.5 per cent year on year in September, while the transport engineering cluster’s output decreased by 35.8 per cent, the chemicals cluster’s output grew 0.4 per cent, and the general manufacturing cluster’s output shrank eight per cent.