BERNAMA – Singapore’s manufacturing output decreased 2.5 per cent in December 2023 on a year-on-year (y-o-y) basis, according to the Singapore’s Economic Development Board (EDB) yesterday.
On a three-month moving average basis, the manufacturing output increased 1.4 per cent in December 2023 compared to a year ago, the EDB said in a statement.
“On a seasonally adjusted month-on-month basis, manufacturing output decreased 1.7 per cent,” said the agency under the Ministry of Trade and Industry.
As for the performance by cluster, it said electronics output grew 6.3 per cent in December 2023 compared to a year ago and the semiconductors segment expanded 17.7 per cent, supported by improved demand in selected end markets such as smartphones.
Conversely, other electronics modules and components, computer peripherals and data storage, and infocomms and consumer electronics segments contracted 7.8 per cent, 17.0 per cent and 18.1 per cent respectively.
“Overall, the output of the electronics cluster declined 3.2 per cent in 2023 compared to 2022,” said the EDB. The chemicals output increased 2.8 per cent in December 2023 on a y-o-y basis, it added.
The specialities and petroleum segments grew 29.1 per cent and 1.7 per cent respectively, with the former recording higher production of mineral oil additives.
By contrast, the other chemicals segment declined 5.4 per cent on account of lower output in fragrances while the petrochemicals segment fell 5.5 per cent on the back of weak market demand.
