SINGAPORE (July 26): Singapore’s manufacturing output decreased 4.9% in June 2023 on a year-on-year (y-o-y) basis, announced the republic’s Economic Development Board (EDB).

In a statement, EDB said excluding biomedical manufacturing, output fell 5.2%.

On a three-month moving average basis, it said manufacturing output decreased 7.3% in June 2023 compared with a year ago.

However, it said on a seasonally adjusted month-on-month basis, manufacturing output increased 5%.

On performance by cluster, it said output for transport engineering increased 10.8% y-o-y in June 2023.

It said the aerospace segment grew 16.7% due to higher demand for aircraft parts as well as more maintenance, repair and overhaul (MRO) jobs from commercial airlines on the back of increased global air traffic.

EDB said the marine and offshore engineering segment expanded 6.8%, supported by increased production of oil and gas field equipment.

It said cumulatively, the output of the transport engineering cluster increased by 18.2% for the period of January to June 2023 compared with the same period a year ago.

On the biomedical manufacturing cluster, it said output decreased 1.8% y-o-y in June 2023.

It said the output of the pharmaceuticals segment increased 9.4% on account of a different mix of active pharmaceutical ingredients being produced compared to a year ago.

EDB said the medical technology segment contracted 11.9% with lower demand for medical devices from the US and Europe.

On a year-to-date basis, it said the output of the biomedical manufacturing cluster decreased by 2% compared with the same period last year.

It added that for other clusters, the electronics output fell 2.9%; general manufacturing decreased 7.5%; chemicals output shed 8.6%; and precision engineering decreased 11.5% y-o-y in June 2023.

The next monthly manufacturing performance media release will be issued on Aug 25, 2023.