Singapore’s manufacturing output jumps 29.1% in October with big pharma boost
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Singapore’s manufacturing output jumped by 29.1 per cent year-on-year in October as pharmaceuticals saw a surge in production.Excluding biomedical manufacturing, output in October increased by 15.8 per cent, according to data released by the Economic DeveloSingapore’s manufacturing output jumps 29.1% in October with big pharma boost
Singapore’s manufacturing output jumped by 29.1 per cent year-on-year in October as pharmaceuticals saw a surge in production.Excluding biomedical manufacturing, output in October increased by 15.8 per cent, according to data released by the Economic Development Board (EDB) on Wednesday (Nov 26).On a seasonally adjusted month-on-month basis, manufacturing output increased by 11.5 per cent, while output excluding biomedical manufacturing increased by 11.7 per cent.The strongest performance in October came from biomedical manufacturing, which saw a 89.6 per cent hike, fuelled by a 122.9 per cent increase in the pharmaceutical segment.This is due to the higher production of active pharmaceutical ingredients and biological products, said EDB.Meanwhile, the medical technology segment grew 7.3 per cent due to the sustained export demand for medical devices.Transport engineering is the next best performing cluster, which grew by 29.5 per cent year on year. Read more
