Singapore's manufacturing output surges in November

Singapore (VNA) – The Singapore Economic Development Board announced on December 24 that the country's manufacturing output increased 17.9 percent year on year in November, compared to a revised 0.8 percent decline in October.

Excluding biomedical manufacturing, the output grew 14 percent in November from a year ago.

On a seasonally adjusted month-on-month basis, the country’s manufacturing output increased 7.2 percent in November. Excluding biomedical manufacturing, it grew 6 percent.

As for the performance of different clusters, the electronics cluster's output soared 34.9 percent year on year in November, compared to a revised 1.1 percent decrease in October.

The biomedical manufacturing cluster saw its output surge 40.6 percent in November, compared to a revised 10.7 percent increase in October. In a breakdown, pharmaceutical output jumped 50.8 percent, and medical technology output grew 22.7 percent.

The precision engineering cluster's output grew 7.3 percent year on year in November, while that of the transport engineering cluster decreased 29.5 percent, of the chemicals cluster grew 10.1 percent, and of the general manufacturing cluster contracted 13.3 percent.

Singapore's economy in the third quarter of 2020 declined 5.8 percent over the same period in 2019, lower than the 7 percent decrease as previously forecast, thanks to better industrial output than expected in September. In the first nine months of this year, Singapore's economy fell 6.5 percent year on year./.