SINGAPORE: Singapore’s manufacturing output shrank by 7.8 per cent year-on-year in August, the first drop since June 2024.
Excluding biomedical manufacturing, output in August decreased by 2.9 per cent, according to official data from the Economic Development Board (EDB) released on Friday (Sep 26).
On a three-month moving average basis, manufacturing output increased 2.1 per cent in August compared to a year ago.
On a seasonally adjusted month-on-month basis, manufacturing output decreased by 9.7 per cent, while output excluding biomedical manufacturing decreased by 3.5 per cent.
CLUSTERS
Biomedical manufacturing output was down by 37.3 per cent in August, dragged by a 59.3 per cent contraction in pharmaceuticals. The segment contracted “from a high base last year due to a different mix of pharmaceutical ingredients being produced”, EDB said.
The medical technology segment grew 5.3 per cent on the back of sustained export demand for medical devices.
Overall, output in the biomedical manufacturing cluster declined 3.4 per cent year-on-year in the period of January to August.
The transport engineering sector saw the biggest growth in output, with an 18.9 per cent year-on-year increase in August.
The aerospace and marine and offshore engineering segments grew 36 per cent and 1.7 per cent respectively, with the former recording higher production of aircraft parts and sustained maintenance, repair and overhaul jobs from commercial airlines. The land segment declined 24.5 per cent.
On a year-to-date basis, the transport engineering cluster increased 17.1 per cent compared to the same period last year, said EDB.
The next biggest increase was in chemicals, where output grew by 3.5 per cent in August, compared to the same period in 2024.
The petroleum segment grew 12.4 per cent from a low base last year due to plant maintenance shutdowns, while the other chemicals segment recorded a 10.9 per cent increase, supported by the higher output of fragrances.
“The specialties segment increased 7.2 per cent, driven by higher production of biofuels as well as electronic chemicals, materials and laminates.
“Conversely, the petrochemicals segment declined 18 per cent due to plant maintenance shutdowns,” EDB said.
Overall, the output of the chemicals cluster contracted 0.4 per cent year-on-year for the period of January to August.
