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Monthly Manufacturing Performance - October 2004 |
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26 Nov 2004
Manufacturing output increased by 2.4% in October
(I) Total Manufacturing Performance
Total manufacturing output increased by 2.4% in October compared to October 2003. The growth achieved by the transport engineering, electronics and chemicals clusters was moderated by the contraction in the biomedical manufacturing cluster. Excluding the biomedical manufacturing cluster, the October growth rate was 9.1%. The three-month moving average growth for total manufacturing was 6.4% while the seasonally adjusted month-on-month growth was 5.1%. Cumulatively, total manufacturing output grew by 13.0% in the first ten months this year compared to output in the same period last year.
(II) Performance by cluster
The electronics cluster grew by 11.4% year-on-year this October despite the contraction in the data storage segment. The computer peripherals segment achieved a high growth of 34.9% with output of printers and related products higher than last October?s level which was relatively low. The infocomms & consumer electronics segment grew by 18.2% with its growth moderated by the contraction in consumer electronics. The output of mobile products increased in response to more overseas orders, especially from the US and Asia Pacific. The production of semiconductors grew by 12.5%. The output of disk drives was constrained by weak demand, leading to a 7.4% contraction in the data storage segment. For the first ten months of 2004, output of the electronics cluster increased by 20.4% over the same period in 2003.
The transport engineering cluster expanded further in October with output increase at 31.1%. The marine & offshore engineering segment strengthened its growth to 50.8% compared to last October. This came from shipyards which completed more ship repairing and ship conversions this October. The construction of oil rigs and oil field equipment also increased in October. Contracts for commercial aircraft repair from the US and Asia Pacific continued to boost the aerospace segment which grew by 15.4%. The greater frequency of cheap air travel also stimulated more aircraft repair. For the first ten months of 2004, output of the transport engineering cluster increased by 22.0% compared to the same period in 2003.
The chemicals cluster grew by 6.1% in October due mainly to expansion in the petroleum segment. Strong processing margins for crude oil together with higher product prices were the primary boosters for the increase of 20.4% of refined petroleum products. The output of petrochemicals was similar to the level recorded in October last year despite the maintenance shutdowns in some petrochemical plants in October this year. Cumulatively, the chemicals cluster grew by 7.0% in the first ten months of this year.
Output of the precision engineering cluster dipped marginally by 0.8% from last October. The machinery & systems segment contracted 0.2% while the precision modules & components segment contracted 1.0%. The production of precision components fell due to lower demand. For the first ten months of 2004, the cluster maintained a cumulative growth of 9.0% compared to the same period in 2003.
Output of the biomedical manufacturing cluster fell by 19.6% in October. The 22.8% contraction in output of pharmaceuticals offset the 9.5% growth in the medical technology segment. The fine chemicals produced by the pharmaceuticals segment this October were different from those produced in October 2003. Cumulatively, the biomedical manufacturing cluster grew by 10.0% in the first ten months of 2004.
The general manufacturing industries shrank 2.3% in October. The contraction came from the printing industry and offset the growth recorded in the food and beverages industries. Cumulatively, output for the first ten months of 2004 decreased 0.1% compared to the same period of 2003.
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 also available on
http://www.gov.sg/sprinter
For media enquiries, please contact Mr Lim Seng Jin
(Tel: 6832-6868, Email:seng_jin_lim@edb.gov.sg)
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