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Singapore's manufacturing shrinks in December

SINGAPORE
2024-01-26 15:42

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SINGAPORE, Jan. 26 (Xinhua) -- Singapore's manufacturing output decreased 2.5 percent year-on-year in December, reversing the 1 percent growth in November, according to the Economic Development Board Friday.

Biomedical manufacturing output declined 23.9 percent year-on-year in December due to a 45 percent drop in pharmaceutical production.

Electronics output expanded 6.3 percent year-on-year in December, mainly led by the semiconductors segment, which grew 17.7 percent.

For 2023, the output for electronics, chemicals, precision engineering, general manufacturing, and biomedical manufacturing declined compared to 2022. Only the transport engineering cluster expanded 15 percent year-on-year.
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