Singapore's manufacturing output dipped 4.1% in March

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According to the latest figures released by the Economic Development Board, on a year-on-year basis, manufacturing output contracted 4.1% in March 2013. 

Excluding biomedical manufacturing, output fell 8.6%. On a three-month moving average basis, manufacturing output declined 6.8% in March 2013, compared to a year ago.

Performance by cluster

Output of the biomedical manufacturing cluster grew 16.2% in March 2013 on a year-on-year basis. The medical technology segment expanded 18.2% on the back of higher production capacities compared to a year ago, and the pharmaceuticals segment increased 15.8% due to a different product-mix. On a year-to-date basis, output of the biomedical manufacturing cluster shrank 5.4%, compared to the same period a year ago.

The chemicals cluster’s output declined 2.7% in March 2013, compared to the same period a year ago. The petrochemicals and other chemicals segments rose 3.0% and 1.2% respectively, but this was offset by contraction in the specialties (-4.0%) and petroleum (-11.9%) segments.

Output of the specialties segment fell with lower regional demand while petroleum throughput was affected by maintenance shutdowns. Output of the chemicals cluster in the first three months of 2013 fell 1.1% on a year-on-year basis.

The general manufacturing cluster’s output contracted 2.9% year-on-year in March 2013, with all segments recording lower output. In particular, printing output was 8.5% lower as demand for reproduction of recorded media, and printing of books & periodicals remained weak. On a year-to-date basis, output of the general manufacturing cluster rose 0.3%.

Output of the electronics cluster fell 7.2% in March 2013, compared to the same period a year ago. While the other electronic modules & components segment expanded 29.7%, the other segments recorded output declines.

In particular, output of the data storage segment shrank 31.8% due to the high base last year, when production was ramped up to make up for shortages caused by the flood in Thailand. Cumulatively, output of the electronics cluster contracted 9.8% from January to March this year, compared to the same period last year.

Output of the transport engineering cluster fell 13.5% year-on-year in March 2013. The marine & offshore engineering segment contracted 19.0% due to lower output recognition from oil rig projects and ship building & conversion jobs. Output of the transport engineering cluster in the first three months of 2013 declined 8.1%, compared to the same period last year.

Output of the precision engineering cluster declined 14.7% year-on-year in March 2013. The precision modules & components segment fell 13.9% with lower production of metal precision components and dies, moulds, jigs & fixtures.

The machinery & systems segment declined 15.4%, on account of lower output of semiconductor related equipment. Overall, output of the precision engineering cluster shrank 10.5% year-on-year in the first three months of this year.