Singapore manufacturing inched up 2.7% in December 2018

Manufacturing output rose 7.2% in 2018.

Singapore’s manufacturing output advanced 2.7% YoY in December 2018, data from the Economic Development Board (EDB) revealed. Excluding biomedical manufacturing however, output fell 1.8%.

On a seasonally adjusted MoM basis, manufacturing output dropped 5.6%, and excluding biomedical manufacturing, it fell a further 1.1%. That being said, overall manufacturing output rose 7.2% in 2018.

Biomedical manufacturing output climbed 29.9% YoY in December 2018, with pharmaceuticals output expanding 41.2% on the back of higher production of active pharmaceutical ingredients and biological products. Medical technology also saw its outputs edge up 5.4%.

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Transport engineering also recorded healthy results in December with outputs rising 23.7% YoY. The marine & offshore engineering segment grew 31.8% due to a higher level of work completed in offshore projects, EDB explained. The aerospace segment also rose 22.3% with more repair and maintenance activities recorded from commercial airlines.

On the other hand, output in the chemicals segment dipped 1.4% YoY in December 2018 amidst the specialties segment growing 8.5%. “The other chemicals segment recorded lower output in fragrances whilst the petrochemicals segment saw a drop in production due to maintenance shutdown,” EDB noted.

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General manufacturing also saw its outputs drop 6.8% YoY in December. EDB highlighted how whilst the infocomms and consumer electronics, and other electronics modules and components segments grew 12% and 6.6% respectively, the rest of the electronic segments saw contractions.

Precision engineering outputs dipped 8.7% YoY, with the machinery and systems segment falling 0.3% on account of lower production in semiconductor equipment, EDB added. “The precision modules & components segment declined 21.6% with lower output of optical instruments, metal precision components and dies, moulds, tools, jigs and fixtures,” the agency said.