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Monthly Manufacturing Performance - October 2005 |
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Manufacturing output continued to expand in October
(I) Total Manufacturing Performance
- Manufacturing growth was maintained in October with output increase of 17.6% over October last year. Higher output came from all clusters, especially the transport engineering, biomedical manufacturing and electronics clusters. Excluding the biomedical manufacturing cluster, manufacturing output rose by 15.3%. The three-month moving average for October showed total manufacturing output grew by 17.0%. For the seasonally adjusted month-on-month growth, manufacturing output increased by 0.1%. Cumulatively, total manufacturing output grew by 8.6% in the first ten months of 2005 compared to the same period last year.
(II) Performance by cluster
- The transport engineering cluster grew by 33.9% year-on-year in October. Output of the marine & offshore engineering segment rose by 52.3% over last October. Local shipyards and oil rig fabricators remained busy working on current contracts for shipbuilding, ship repairing and construction of oil rigs. Some major conversions and repair of vessels were completed. Greater demand from the US and Asia Pacific region for repair of commercial aircraft boosted the growth of the aerospace segment by 16.2%. For the first ten months of 2005, the transport engineering cluster grew by 25.1% compared to the same period in 2004.
- The biomedical manufacturing cluster continued to grow in October, albeit at a slower pace. Output increased by 27.8% over last October with higher production in the pharmaceuticals and medical technology segments. Manufacturers of active pharmaceutical ingredients raised output by 30.7% to meet overseas deliveries. The production of medical equipment and devices rose by 8.4% in response to demand from Europe and the US. For the first ten months of 2005, the biomedical manufacturing cluster grew by 13.9% compared to the same period last year.
- The electronics cluster's output rose by 16.4% with expansions in all segments. The semiconductors segment grew by 23.9% as demand turned robust for electronic chips for communication and consumer products. The computer peripherals segment also grew by 14.0% arising from higher production of printers and related products. Output of the infocomms & consumer electronics grew by 11.8% with manufacturers stepping up production of mobile phones and consumer electronics. Data storage grew at a slower pace of 9.2%. For the first ten months of 2005, the cluster grew by 6.2% over the same period last year.
- The precision engineering cluster grew by 12.2% in October. Output of the machinery & systems segment rose by 24.6% with higher production of semiconductor assembly & testing equipment, industrial process control equipment, conveying machinery, transformers and switchgears. The precision modules and components segment reversed its down trend in September to grow by 6.5% in October. There was higher production of plastic components, lead frames, wires, precision springs and cable assemblies. Cumulatively, the cluster grew by 4.3% in the first ten months of 2005.
- Output of the chemicals cluster grew by 4.7% in October. The petroleum refineries raised output by 4.7%, boosted by better refining margins. Production of petrochemicals rose by 12.3% due to low base in October last year when some plants had maintenance shutdowns. Such shutdowns this year occurred in September. For the first ten months of this year, the chemicals cluster achieved a cumulative growth of 3.0% compared to the same period in 2004.
- The general manufacturing industries grew by 7.5% in October. The production of food, beverages & tobacco increased by 11.7%. Output of the printing industries also grew by 4.1%. Cumulatively, this cluster of industries grew by 2.3% in the first ten months of 2005 over the same period in 2004.
- The Monthly Index is available from the Research & Statistics Unit of the Economic Development Board. For further information, please contact Miss Kok Yit Hoe by tel - 6832 6741 / fax - 68326493 / email yithoe@edb.gov.sg
Editors' Note: Updates on Monthly Manufacturing Output are available on
http://www.sprinter.gov.sg and http://www.sedb.com
For media enquiries, please contact Ms Constance Soh
(Tel: 6832 6628 / Handphone: 9159 6282/ Email:csoh@edb.gov.sg)
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