The output value of the electronics industry, which accounts for the largest proportion of manufacturing, increased by 3.9%, while information communications, consumer electronics and semiconductors increased by 42.6% and 3.4% respectively, and computer peripherals and data storage fields shrank by 18.7% and 20.8% respectively.
Singapore's manufacturing output value increased by 3.9% year-on-year in May, achieving growth for the 11th consecutive month, and also higher than economists' expectations of 2.6%. However, this increase continued to slow down. In contrast, the annualized output value in April increased by 5.6%, which is also a downward revision from the estimated 5.9% released last month.
After seasonal adjustment, the output value in May fell by 0.4% month-on-month; if the biopharmaceutical manufacturing industry is excluded, it will increase by 0.7%.
In terms of performance in various manufacturing industries, the transportation engineering sector saw the largest increase, an increase of 25.6% year-on-year. Among them, the aerospace industry rose 43.6%, thanks to rising demand for maintenance, repair and renovation (MRO). The land transport sector fell by 12.0%.
The precision engineering sector increased by 10.3% year-on-year, of which the machinery and systems sector increased by 12.3%, mainly due to the demand for semiconductor equipment and measurement equipment.
The Singapore Economic Development Bureau (EDB) issued a statement on Thursday (June 26) stating that if the biopharmaceutical manufacturing industry with large fluctuations is excluding the manufacturing output value, the annual increase of 4.9%.
General manufacturing is the only area that has fallen, shrinking by 8.9% year-on-year. Among them, the printing output value increased by 2.2%, and the output in the remaining areas decreased. The output value of miscellaneous industries shrank the largest, at 16.6%, mainly due to the decline in the output of structural metal components and paper products.