Singapore's manufacturing output up 2.1% in April; 6th straight month of growth
26 May, 2021
Singapore's manufacturing productivity grew for a 6th consecutive month found in April, rising 2.1 per cent year-on-year regarding to official data released on Tuesday (May 25).
Growth was slower than in March, when manufacturing output increased by 7.6 %.
Excluding biomedical manufacturing, result grew by 11.1 % in April this season, in part because of "circuit breaker" measures in the same month last year, said the Economic Production Board (EDB).
On Tuesday morning hours, the Ministry of Trade and Industry had announced it had been maintaining Singapore's gross household item forecast for the entire year at four to six 6 per cent, in view of "heightened uncertainties" due to the COVID-19 pandemic.
PRECISION AND Transportation ENGINEERING RISE
Growth was first headlined by precision engineering output, which expanded by 20.4 per cent year-on-year in April.
This was led by the machinery and systems segment growing 27 per cent, supported by higher production of semiconductor equipment because of strong capital investment in the global semiconductor industry, said EDB.
The precision modules and parts segment also rose 10.5 %.
The transport engineering cluster grew 19 %, with the terrain segment recording a 101.1 per cent surge. This was because of Singapore's "circuit breaker" actions and lockdowns in export marketplaces which adversely damaged production this past year, said EDB.
The aerospace segment also rose 23.8 per cent from a minimal base because of the grounding of aircraft amid COVID-19 travelling restrictions. The marine and offshore engineering segment contracted 5.9 % on the trunk of weak require and labour shortages, explained the agency.
Other clusters that expanded were general making by 18 %, chemicals by 14.4 % and electronics by 6.6 %.
BIOMEDICAL MANUFACTURING SLIDES FURTHER
Output found in the biomedical production segment declined for another consecutive month, falling 22.7 % in April.
As the medical technology segment grew 12.7 per cent with bigger export demand for medical gadgets, the pharmaceuticals segment shrank by 24.7 % due to a different mixture of active pharmaceutical materials, said EDB.
On a seasonally adjusted month-on-month basis, overall making output increased 1 per cent in April. Excluding biomedical making, output fell 0.6 %.
Source: account.spinnerchief.com