HomeBusinessSingapore’s manufacturing output records slower growth of 2% in January 2022

Singapore’s manufacturing output records slower growth of 2% in January 2022

SINGAPORE: Singapore’s manufacturing output continued to rise in January, though the tempo of growth fell to 2 per cent year-on-year, official information confirmed on Friday (Feb 25).

This follows a revised growth of 16.7 per cent in December.

Excluding biomedical manufacturing, output grew 4.7 per cent, the Economic Development Board (EDB) stated in a media launch.

On a seasonally adjusted month-on-month foundation, manufacturing output decreased 10.7 per cent in January 2022. Excluding biomedical manufacturing, output fell 0.2 per cent.

MOST CLUSTERS RECORD OUTPUT GROWTH

General manufacturing noticed the very best improve in January, recording 17.4 per cent year-on-year, with all segments recording growth.

The miscellaneous industries section grew 19.9 per cent, with larger manufacturing of construction-related merchandise, jewelry and carrying attire. The meals, beverage and tobacco and printing segments expanded by 16.3 per cent and 4.1 per cent respectively.

Transport engineering grew 16.2 per cent, in comparison with the identical interval in 2021. The aerospace section grew 25.8 per cent with larger quantity of upkeep, restore and overhaul work from business airways, as world journey restrictions eased in comparison with a yr in the past.

The marine and offshore engineering section additionally rose, by 9.6 per cent, with a better degree of work accomplished in shipbuilding and repairing actions.

In precision engineering, output expanded 11.6 per cent year-on-year. Within the cluster, the equipment and programs section grew 20.5 per cent, on account of larger output of semiconductor gear, machine instruments & equipment and measuring units.

However, the precision modules and parts section declined 5.7 per cent with decrease output of optical merchandise.

The electronics cluster grew 0.1 per cent – towards a drop of 2.6 per cent the earlier month – from the excessive manufacturing base in the earlier yr, EDB stated.

The infocomms and client electronics and different digital modules and parts segments recorded output will increase of 26.3 per cent and 19.5 per cent respectively.

The semiconductors and laptop peripherals and information storage segments, nonetheless, declined 0.9 per cent and 4.8 per cent respectively.

However, the biomedical manufacturing cluster declined 10.6 per cent year-on-year.

Within the cluster, output for the prescribed drugs section declined 18 per cent on account of decrease manufacturing of organic merchandise. In distinction, the medical expertise section recorded a rise of 1.1 per cent with larger export demand for medical units

Chemicals output fell 2.3 per cent, as the opposite chemical compounds section contracted 22.1 per cent with decrease output in fragrances.

The remaining segments recorded growth. The petroleum refining throughput expanded 13.3 per cent from the low manufacturing base a yr in the past, on account of weaker export demand amid the COVID-19 outbreak.

Meanwhile, the specialties and petrochemicals segments grew 3.6 per cent and a pair of.1 per cent respectively, with the previous recording larger manufacturing of industrial gases.

The subsequent month-to-month manufacturing efficiency media launch will likely be issued on Mar 25.

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