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Monthly manufacturing performance - October 2003 |
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26 Nov 2003
Manufacturing output grew strongly in October
(I) Total Manufacturing Performance
Manufacturing output in October grew strongly by 19.3% over October 2002. The growth was contributed largely by the biomedical sciences and electronics clusters. On a seasonally adjusted month-on-month basis, October's output grew by 16.3% over September. The three-month moving average also recorded a growth of 12.0% compared to last October. Cumulatively, output for the first ten months of this year grew by 2.7% compared to the same period in 2002.
(II) Performance by cluster
The biomedical sciences showed a hefty growth of 151% in its October output compared to October a year ago. The leap in growth came mainly from the production of pharmaceuticals which surged 209%. This was due to the different product-mix of fine chemicals produced in these two months. The output of medical technology products remained around the same level in October 2002. Cumulatively, output of biomedicals grew by 14.8% in the first ten months of this year compared to the same period in 2002.
The electronics cluster continues to grow in October with output higher than last October by 12.7%. The growth came from most segments with the exception of computer peripherals. Output of semiconductors grew by 30.8% as increased demand sustained production of chips, especially communication chips. In the data storage segment, disk drive makers produced 21.0% more disk drives than last October. More PCBs were produced, driven by local and export orders. The infocomms and consumer electronics segment rebounded in October with a marginal increase of 1.6%, contributed by the growth in output of computers and consumer products in response to festive demand anticipated at year-end. However, the production of mobile products remained depressed. Production of computer peripherals declined by 11.4% with lesser output of inkjet printers. For the first ten months of 2003, the electronics cluster recorded a cumulative growth of 3.4% over the same period in 2002.
The chemicals cluster grew by 4.4% year-on-year in October. Expansions in the petrochemicals and specialty chemicals segments were moderated by contraction in the petroleum segment. Most of the petrochemical plants were operating normally after their plant shutdowns in the previous two months. Increased capacities also contributed to a wider range of petrochemicals manufactured. Specialty chemicals with higher output include electronic chemicals, food chemicals and additives and catalysts. In contrast, the production of petroleum products declined by 4.0% due to a plant maintenance shutdown. Cumulatively, the chemicals cluster grew by 6.4% in the first ten months of this year.
The precision engineering cluster grew by 0.4% in October. The growth in the machinery & systems segment was moderated by a slight dip in the precision modules & components segment. Output of the following machinery went up: semiconductor testing equipment, lifting machinery and machine tools. On the other hand, output of metal stampings and wires dipped. Cumulatively, output of the cluster for the first ten months this year was still 2.5% less than that produced in the first ten months of 2002.
The transport engineering cluster continued to shrink in October. Output declined by 7.6% with contractions recorded in its major segments. Output of the aerospace segment declined by 7.8% while the marine & offshore engineering contracted by 6.5%. Less commercial aircraft repairs and ship-repairing activities accounted for these declines. Cumulatively, output declined by 7.1% in the first ten months of 2003 compared to the same period last year.
The general manufacturing industries declined by 1.3% year-on-year in October, bringing a cumulative decline of 5.0% in the first ten months of this year over the same period last year.
The Monthly Index is available from the Research & Statistics Unit of the Economic Development Board. For further information on this, please contact Miss Kok Yit Hoe by tel - 6832 6741 / fax - 6336-1365 / email yithoe@ edb.gov.sg
MARKETING COMMUNICATIONS
CORPORATE SERVICES DIVISION
Editors' Note: Updates on Monthly Manufacturing Output are available on
http://www.gov.sg/sprinter and http://www.sedb.com
For media enquiries, please contact Ms Valerie Tay (Tel: 6832-6789/ hdph: 9685 2434/ Email:valeriet@edb.gov.sg)
The monthly index is available from the Research & Statistics Unit of the Economic Development Board. For further information on this, please contact Miss Kok Yit Hoe (Tel: 6832-6741 / Fax: 6336-1365 / Email: yithoe@edb.gov.sg)
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