Singapore's manufacturing output up 12.6 pct in February year-on-year

Singapore's manufacturing output increased 12.6 percent year-on-year in February, said the country's Economic Development Board (EDB) on Friday.

Excluding biomedical manufacturing, output grew 17.1 percent in February, said EDB in the press release.

On a seasonally adjusted month-on-month basis, manufacturing output decreased 3.7 percent compared to the previous month.

Excluding biomedical manufacturing, output fell 3.4 percent. As for performance by cluster, the output of electronics cluster increased 39.8 percent year-on-year in February.

EDB said this was mainly attributed to the semiconductors segment, posting a robust growth of 63.6 percent.

The other electronic modules and components as well as infocomms and consumer electronics segments also grew 16.5 percent and 8.3 percent respectively.

EDB said the precision engineering cluster expanded 26.2 percent year-on-year in February, with both segments registering output growth.

The machinery and systems segment posted strong growth of 33.2 percent, on the back of higher export demand for semiconductor related equipment.

The precision modules and components segment grew 16.4 percent with higher output of dies, molds, tools, jigs and fixture, optical instruments and metal precision components.

The output of general manufacturing industries cluster grew 3.3 percent year-on-year in February.

EDB said the food, beverages and tobacco segment grew 26.6 percent, due in part to fewer production days in February last year because of Chinese New Year; but growth was moderated by declines in the miscellaneous industries and printing segments.

The chemicals cluster expanded 1.9 percent year-on-year in February, according to the press release.

Petrochemicals and petroleum segments grew 5.3 percent and 3.2 percent respectively, and specialties segment output grew 4.1 percent with higher production of additives for mineral oil.

On the other hand, the other chemicals segment registered lower output in fragrances. While the output of biomedical manufacturing cluster fell 2.6 percent in February compared to the same period a year ago, said EDB.

The medical technology segment grew 18.6 percent on the back of higher export demand for medical devices but this was offset by decline in the pharmaceuticals segment.

Output of the transport engineering cluster fell 9.6 percent year-on-year in February.

The land transport and aerospace segments expanded but this was offset by contraction in the marine and offshore engineering segment, which remained weak with a lower level of rig-building activity and lackluster demand for oilfield and gasfield equipment amidst the low oil price environment.