Manufacturing output surged 13.7% in August

All output, excluding biomedical manufacturing, rose.

Singapore’s manufacturing output expanded 13.7% YoY in August, driven by gains in the electronics and chemicals cluster but slightly offset by declines in the precision modules & components, official data showed. Excluding biomedical manufacturing, output expanded by 15.3%.

But compared to the three-month moving average basis, manufacturing output decreased 0.7% on a three-month moving average basis. On an MoM basis, output grew 13.9%, according to the Singapore Economic Development Board.

The electronics cluster rose 44.2% YoY in August, mainly attributing its success to the semiconductors segment which climbed 56.9%. This was offset by declines in the infocomms and consumer electronics and computer peripherals & data storage segments.

As for precision engineering, output reached 9.4% YoY, no thanks to the precision modules & components segment which fell 4.3%. On the other hand, the machinery & systems segment grew 17% on the back of higher production of semiconductor equipment.

Biomedical manufacturing output also surged 8.4% YoY, with all segments recording output improvements. The medical technology segment grew 19.3% with higher export demand for medical instruments, while the pharmaceutical segment increased 5.7% on account of higher output in biological products.

Output from the chemicals cluster escalated 3.1% YoY in August. The specialties and petrochemicals segments rose 8.9% and 7.8% respectively, with the former recording higher output in mineral oil additives.

However, the other chemicals segment declined 8.8% while the petroleum segment fell 16.3%, on the back of plant maintenance shutdowns and lower export orders amid the COVID-19 outbreak.

The general manufacturing industries cluster also contracted 18.6% YoY, with all segments dwindling. The food, beverage & tobacco segment fell 13.8% due in part to maintenance shutdowns, which impacted the production of milk powder.

The printing and miscellaneous industries segments diminished 21.8% and 24.1% respectively, as orders were impacted by the COVID-19 pandemic along with the slow resumption of domestic construction activity.

Output from the transport engineering cluster also dropped heavily at 36.0% YoY. The aerospace and the marine and offshore engineering segments declined 34.0% and 50.7% respectively, as the level of activities remained low in these industries due to COVID-19.