Economy
Singapore's industrial production grows 24.2 pct in September

Just Earth News | @justearthnews | 26 Oct 2020 Print

Singapore's industrial production grows 24.2 pct in September Singapore Economy

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Singapore/Xinhua: Singapore Economic Development Board reported on Monday that the country's manufacturing output grew 24.2 percent year on year in September, compared to a revised 15.4 percent rise in August.

Excluding biomedical manufacturing, the output grew 8.5 percent in September from a year ago.

On a seasonally adjusted month-on-month basis, Singapore's manufacturing output increased by 10.1 percent in September. Excluding biomedical manufacturing, the output fell by 1.6 percent.

As for the performance of different clusters, the electronics cluster's output grew 30.1 percent year on year in September, compared to a revised 45.3 percent increase in August. The cluster's growth was led by the semiconductors segment which grew 37.4 percent, supported by demand from cloud services, data centers and the 5G market.

The biomedical manufacturing cluster saw its output jumped 89.8 percent in September, compared to a revised 12.2 percent rise in August. In a breakdown, pharmaceutical output grew 113.6 percent with higher output of active pharmaceutical ingredients and biological products, while the medical technology segment grew 15 percent with higher export demand for medical instruments.

The precision engineering cluster's output declined by 1.5 percent year on year in September, while the transport engineering cluster's output decreased by 35.8 percent, the chemicals cluster's output grew 0.4 percent, and the general manufacturing cluster's output shrank 8 percent. 

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