S’pore manufacturing output in October up 24% year-on-year

  • Business
  • Friday, 25 Nov 2011

SINGAPORE: Singapore's total manufacturing output increased 24.4% year-on-year in October. However, excluding biomedical manufacturing, output declined 11.2%.

On a three-month moving average basis, manufacturing output in October increased 19.2% compared to the same period in 2010, according to the Singapore Economic Development Board's latest release.

On a seasonally adjusted month-on-month basis, it said manufacturing output grew 14.2% in October. Excluding biomedical manufacturing, output rose 1.2%.

Output of the biomedical manufacturing cluster expanded 112.3% in October on a year-on-year basis.

The pharmaceuticals segment continued to be the main growth driver of the cluster as output increased 117.5% on the back of a different mix of active pharmaceutical ingredients.

Output of the medical technology segment also rose 15.2% in October 2011. On a year-to-date basis, the biomedical output increased by 30% compared to the same period a year ago. Output of the transport engineering cluster rose 15.3% year-on-year in October.

Within the cluster, the marine and offshore engineering segment's output expanded by 19.3%, with a higher level of oil rigs and shipbuilding activities.

The aerospace segment also recorded a 15.7% increase in output with higher demand for repair jobs from commercial airlines in the Asia Pacific region.

Cumulatively, output of the cluster grew 6.3% in the first ten months of 2011, compared to the same period last year. - BERNAMA

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