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Manufacturing equipment in modern pharmaceutical factory. Selective focus.
Photo: Depositphotos/genkur(for illustration purposes only)
Business
Less than 1 min.Read

Singapore’s biomedical sector boosts manufacturing output in September

Mary Alavanza
By Mary Alavanza

SINGAPORE: Singapore’s manufacturing output in September rose by 9.8% year-on-year (YoY), as announced by the Economic Development Board (EDB).

However, this growth was largely driven by the biomedical sector, which saw a significant increase of 62% YoY.

According to the Singapore Business Review, without this boost, the overall manufacturing output would have increased by only 4.5% YoY and declined by 7.6% month-on-month (MoM).

The manufacturing output in September stayed mostly flat compared to August.

While the biomedical sector contributed strongly to the overall growth, all other sectors experienced increases in output except for transport engineering.

Transport engineering experienced a YoY decline of 1.9%, mainly due to drops in aerospace, which dropped 2.9% YoY, and marine & offshore engineering, which fell by 9.8% YoY.

Meanwhile, in September, precision engineering rose by 14.7% YoY, general manufacturing increased by 8.1% YoY, chemicals grew by 3.4% YoY, and electronics improved by 1.9% YoY. /TISG

Featured image by Depositphotos (for illustration purposes only)

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