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Monthly Manufacturing Performance - March 2008 |
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March manufacturing output grew 16.9% on the back of a surge in output of pharmaceuticals
(I) Total Manufacturing Performance
- Manufacturing output this March rose 16.9% compared to March last year. The growth came mainly from a surge in output of the biomedical manufacturing cluster. The three-month moving average growth for March was 12.4% compared to the same period last year. The month-on-month seasonally adjusted index for March fell 0.6% from February. Total manufacturing output for the first three months of 2008 increased by 12.4% over the same period in 2007.
(II) Performance by cluster
- Output of the biomedical manufacturing cluster surged 98.1% in March compared to March last year. Pharmaceuticals manufacturers increased production by 108.4% with a greater variety of active pharmaceutical ingredients produced. The medical technology segment contracted by 5.7% due to lower production of medical devices for export. The cumulative output of the cluster for the first three months of 2008 was 49.3% higher compared to the same period in 2007.
- The transport engineering cluster grew 6.7% in March compared to a year ago. The marine & offshore engineering segment grew by 13.3% as shipyards completed more stages in current contracts for ship building, ship conversion and ship repair. The manufacture of oil field equipment increased from a year ago but the fabrication of oil rigs slowed down. The land transport segment grew 21.0% with higher output for both local and export markets. For the aerospace segment, output fell 2.2% due to lower number of repair of bigger commercial aircraft. Cumulative output in the first three months of 2008 saw the transport engineering cluster expanding by 4.0% compared to the same period in 2007.
- The chemicals cluster shrank 3.0% in March this year. The maintenance shutdowns in some petrochemical plants resulted in a dip of 0.7% in production of petrochemicals. The petroleum segment shrank 0.5% from lower production of fuel oil, diesel oil and naphtha. The specialty chemicals segment shrank 0.7%. Cumulative output in the first three months of 2008 was 1.1% higher than in the same period in 2007.
- The general manufacturing industries contracted by 3.8% in March. The output of printing industries declined 4.8% while the decline was 1.3% from the food, beverages and tobacco industries. For the first three months of 2008, the cumulative output was similar to the level in the same period of 2007.
- The electronics cluster contracted by 4.1% in March. The growth in the data storage, other electronic modules & components and computer peripherals segments were offset by contractions in semiconductors and infocomms & consumer electronics segments. Export demand was a contributing factor. The production of data storage and computer peripherals went up by 18.7% and 1.2% respectively. Cumulative output for the first three months of 2008 grew 4.6% compared to the same period last year.
- The precision engineering cluster contracted 6.1% year-on-year in March. Output of the machinery & systems segment was up marginally from March last year but was offset by the contraction of 11.4% in the precision modules & components segment. The cluster recorded a decline of 1.7% in the first three months of 2008 compared to the same period in 2007.
- 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 – 6832 6493 / email yithoe@edb.gov.sg
- The next monthly manufacturing performance media release will be issued on 26th May 2008.
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 Mr Alex Tan (Tel: 68326284/ Handphone: 98410392/ Email: alex_tan@edb.gov.sg)
The index has been rebased from 2003=100 to 2007=100 to reflect the latest structure of Singapore’s manufacturing sector in the production indices. A copy of the memorandum on the rebased index is available here. |
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