Biomedical single-handedly lifts June manufacturing to 7.6% growth

The cluster's commanding 54.4% expansion pushed Singapore past its 6.6% output performance in May.

In fact, excluding biomedical manufacturing, output fell 1.5% on a year-on-year basis.

This shows Singapore manufacturing's almost singular reliance on its best-performing sub-sector, as other clusters like precision engineering, electronics and chemicals tanked.

Here's more from the Enterprise Development Board:

On a year-on-year basis, Singapore's manufacturing output grew 7.6% in June 2012. Excluding biomedical manufacturing, output fell 1.5%.

On a seasonally adjusted month-on-month basis, manufacturing output rose 3.9% in June 2012. Excluding biomedical manufacturing, output declined 3.8%.

Total Manufacturing Performance. On a year-on-year basis, manufacturing output grew 7.6% in June 2012. Excluding biomedical manufacturing, output fell 1.5%. On a three-month moving average basis, manufacturing output increased 4.5% in June 2012, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output rose 3.9% in June 2012. Excluding biomedical manufacturing, output declined 3.8%.

Performance by cluster. Output of the biomedical manufacturing cluster expanded 54.4% on a year-on-year basis in June 2012. The pharmaceuticals segment surged 68.7%, partly due to a different production mix of active pharmaceutical ingredients. On a year-to-date basis, output of the biomedical manufacturing cluster was 22.0% higher, compared to the same period a year ago.

The transport engineering cluster grew 7.6% on a year-on-year basis in June 2012. Higher output from rig building and ship building activities lifted the marine & offshore engineering segment to a gain of 8.1%. The aerospace segment rose 4.4% from a year ago with higher demand for engine repair jobs. Output of the transport engineering cluster in the first six months of 2012 increased 21.9%, compared to the same period in 2011.

Output of the general manufacturing cluster increased 0.6% in June 2012 compared to the same period a year ago. Higher output in the miscellaneous industries (4.5%) and food, beverages & tobacco (4.0%) segments were partially offset by lower printing output (-12.2%) in books, magazines, labels and organisers. On a year-to-date basis, the general manufacturing cluster’s output grew 2.3%, compared to the same period last year.

The precision engineering cluster declined 3.4% year-on-year in June 2012, with both segments recording lower output. The precision modules & components segment declined 2.8% on account of lower output of dies, moulds, jigs and fixtures and industrial & mechanical rubber goods. The machinery & systems segment's output was 3.9% lower in June, affected by lower demand for lifting & handling equipment and refrigeration systems. On a year-to-date basis, output of the precision engineering cluster grew 0.2%, compared to the same period a year ago. 

The decline in the electronics cluster moderated, with output falling 4.5% in June 2012 compared to a year ago. The other electronic modules & components and infocomms & consumer electronics segments grew 1.3% and 0.4%, respectively, but this was offset by decreases in other segments. The computer peripherals segment contracted 18.1% with lower production of printed circuit boards and other computer products. Data storage fell 2.5%, as hard disk drive supply shortages resulting from the Thailand floods eased, while semiconductor output slipped 3.6%. Cumulatively, output of the cluster in the first six months of 2012 fell 13.4%, compared to the same period in 2011.

The chemicals cluster fell 5.7% year-on-year in June 2012, with all segments recording lower output. The petroleum segment's output fell 7.4% on the back of weak refining margins while the specialty chemicals segment declined 8.5%. On a year-to-date basis, chemicals output declined 4.8%, compared to the same period a year ago.