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Singapore manufacturing output down 6.7pc in June
SINGAPORE, July 24 — Singapore’s manufacturing output decreased 6.7 per cent in June 2020 on a year-on-year basis, according to the Singapore Economic Development Board (EDB).
However, the board said excluding biomedical manufacturing, output grew 2.1 per cent.
As for performance by clusters, the EDB said electronics output grew 17.3 per cent in June 2020 on a year-on-year basis.
The cluster’s growth was largely attributed to the semiconductors segment which grew 26.0 per cent, supported by demand from cloud services and data centres, as well as 5G markets, it said in a statement issued here today.
As for the precision engineering cluster, the output increased 9.1 per cent in June 2020 compared with the same period a year ago, with both segments recording output growth, it said.
The machinery & systems segment grew 11.1 per cent on account of higher production of semiconductor equipment while the precision modules & components segment increased 2.9 per cent with higher output in optical products and metal precision components.
Meanwhile, the chemicals cluster’s output fell 12.1 per cent year-on-year in June 2020 with all segments except for petrochemicals recording an output decline.
The other chemicals, specialties and petroleum segments contracted 21.5 per cent, 27.3 per cent and 34.2 per cent respectively, on the back of plant maintenance shutdowns and lower export orders amid the Covid-19 outbreak.
As for general manufacturing, the output of the cluster contracted 13.9 per cent in June 2020 on a year-on-year basis, with all segments within the cluster recording output declines.
The food, beverage & tobacco segment fell 2.7 per cent with lower production of beverage products.
The printing and miscellaneous industries segments declined 24.1 per cent and 26.5 per cent respectively, with the latter registering lower output of construction-related products.
Meanwhile, the biomedical manufacturing cluster’s output fell 30.6 per cent in June 2020 versus the same period in 2019.
The medical technology segment grew 5.9 per cent to meet export demand for Covid-related medical devices.
However, the pharmaceutical segment declined 37.4 per cent with a lower output of biological products.
As for transport engineering, the output of the cluster decreased 33.9 per cent year-on-year in June 2020, with all segments recording a decline.
The aerospace segment contracted 23.0 per cent as the volume of aircraft repair and maintenance work remained low amid the coronavirus pandemic.
The marine & offshore engineering segment shrank 53.5 per cent as movement restrictions at foreign worker dormitories slowed the progression of work in the shipyards. — Bernama
Source: https://www.malaymail.com/news/singapore/2020/07/24/singapore-manufacturing-output-down-6.7pc-in-june/1887711