Singapore’s manufacturing output up 13% in May, led by electronics production
Electronics grew 35.8 per cent on the back of robust AI-related demand, said the Economic Development Board.
This picture shows a robotic arm transferring a wafer fab inside its manufacturing facility at Singapore GlobalFoundries in Singapore on Sep 12, 2023. (File photo: AFP/Roslan Rahman)
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SINGAPORE: Singapore’s manufacturing output increased by 13 per cent year-on-year in May, driven by another month of strong electronics production fuelled by demand for AI-related products.
Excluding biomedical manufacturing, output rose by 17.7 per cent, according to official data from the Economic Development Board (EDB) released on Friday (Jun 26)
On a seasonally adjusted month-on-month basis, manufacturing output fell by 0.7 per cent, while output excluding biomedical manufacturing increased by 3.1 per cent.
CLUSTERS
Electronics, precision engineering and general manufacturing recorded growth, while transport engineering, chemicals and biomedical manufacturing contracted.
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Electronics grew 35.8 per cent, led by the infocomms and consumer electronics as well as the semiconductors segments. EDB attributed the increase to robust AI-related demand.
Precision engineering increased 32.2 per cent, with the machinery and systems segment recording higher production of semiconductor equipment.
The precision modules and components segment also produced more optical instruments, electronic connectors and dies, moulds, tools, jigs and fixtures.
General manufacturing industries grew 1.8 per cent, led by the miscellaneous industries segment, which had increased production of structural metal products.
On the other hand, transport engineering output fell by 5 per cent due to lower aerospace maintenance repair and overhaul (MRO) activity, reduced work related to oil rigs and offshore platforms, as well as softer demand for oil and gas field equipment.
Chemicals decreased by 11.5 per cent, led by lower production in the petroleum and petrochemicals segments due to disruptions in feedstock supply.
Biomedical manufacturing fell by 24.2 per cent, as medical technology output declined amid softer demand for medical devices.
Meanwhile, pharmaceuticals output contracted on lower biologics production and a different mix of active pharmaceutical ingredients.
Source: CNA/dc(ac)
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