Singapore manufacturing up, biomedical, transport engineering leads

SINGAPORE's manufacturing output grew 7.6 per cent in June year on year supported by robust biomedical sector up by 54.4 per cent compared to the same period in 2011 and up 22 per cent on a year-to-date basis with pharmaceuticals up 68.7 per cent.

But when biomedical manufacturing is excluded, the country's overall manufacturing output declined 3.8 per cent, according to the latest figures from Singapore's Economic Development Board.

Transport engineering grew 7.6 per cent year on year basis with first half posting a 21.9 per cent increase. In June, its higher output came from rig building and ship building activities, gaining 8.1 per cent for the marine and offshore engineering segment to gain 8.1 per cent. The aerospace segment grew 4.4 per cent from a year ago with higher demand for engine repair jobs.

Of its general manufacturing cluster, up 0.6 per cent in June. Its food, beverages and tobacco industry was up four per cent while print sector suffered with books, magazines, labels and organisers, down 12.2 per cent.

The electronics sector declined 4.5 per cent in June year on year while first six months of 2012 saw a decline of 13.4 per cent. Electronic modules and components and infocomms, and consumer electronics were up 1.3 per cent and 0.4 per cent respectively. Computer peripherals contracted 18.1 per cent due to lower production of printed circuit boards and other computer products. Data storage fell 2.5 per cent, as hard disk drive supply shortages resulting from the Thailand floods eased, while semiconductor output slipped 3.6 per cent.

The precision engineering sector declined 3.4 per cent year on year in June 2012 but was slightly up by 0.2 per cent on a year-to-date basis. A notable drop in demand was recorded for lifting and handling equipment as well as refrigeration systems.

Chemical manufacturing dropped 5.7 per cent in June and 4.8 per cent year to date because of the 7.4 decline in the petroleum segment on the back of weak refining margins while the specialty chemicals segment fell 8.5 per cent.