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Singapore's manufacturing sector records 15.6% growth in December 2021

·2-min read

Overall manufacturing output for 2021 increased by 13.2% y-o-y.

Singapore’s manufacturing output increased by 15.6% y-o-y in December 2021, according to data released by the Singapore Economic Development Board (EDB) on Jan 26.

The growth marks the third straight month of expansion since October 2021.

Except biomedical manufacturing, which expanded 87.7% y-o-y in December, output grew 5.0% during the month.

On a month-on-month (m-o-m) basis, manufacturing output increased 4.3%, although it shrank by 1.1% excluding biomedical manufacturing.

Overall manufacturing output for 2021 increased by 13.2% y-o-y.

In December, all clusters registered expansions with the exception of the electronics cluster, which fell 2.9% y-o-y from the high production base from a year ago.

The infocomms & consumer electronics and other electronic modules & components segments grew 30.8% and 5.3% respectively, while computer peripherals & data storage and semiconductors segments saw declines of 0.1% and 6.9% respectively.

Within the biomedical manufacturing cluster, the pharmaceuticals segment surged 162.3% y-o-y from a low production base in 2020 with higher production of biological products and a different mix of active pharmaceutical ingredients.

The medical technology segment within the cluster, however, fell 3.4%, with lower export demand for medical devices.

In transport engineering, the cluster saw overall output expansion of 40.8% y-o-y in December. The aerospace segment grew 58.9% with higher demand for maintenance, repair and overhaul activities, due to the easing of global travel restrictions. The marine and offshore engineering segment rose 49.8% with more work done in shipbuilding and repairing activities.

Output for the precision engineering cluster grew 16.4% y-o-y in December, with the machinery and systems segment improving 26.0% y-o-y with higher output in semiconductor and process control equipment. The precision modules and components segment, on the other hand, fell 1.6% y-o-y with lower output of optical products.

General manufacturing output expanded 7.7% y-o-y with the miscellaneous industries segment improving 15.9% y-o-y with higher production of construction-related products, jewellery and wearing apparel.

The food, beverage & tobacco segment expanded 7.0% on account of higher production of beverage products and animal feed. In contrast, the printing segment fell 10.3%.

The chemicals cluster recorded output of 1.2% y-o-y in December, with the expansion of the petroleum and petrochemicals segments by 14.7% and 8.2% y-o-y respectively. To be sure, the petroleum segment saw throughput growth from the low production base from a year ago due to softer export demand.

Meanwhile, the specialties segment declined 2.3% with lower production of mineral oil additives while the other chemicals segment contracted 11.1% with lower output in fragrances.

Photo: File photo

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