28 October 2002 07:18 [Source: ICIS news]
SINGAPORE (CNI)--Singapore's petrochemical output grew in September to 19.8% compared to the same month last year while the overall chemical cluster grew by 8.9% year-on-year, the Economic Development Board (EDB) said on Monday.
September's year-on-year growth was significantly lower than August's which was reported at 32% compared to the corresponding month in 2001.
The overall chemicals cluster grew by 8.9% in September compared to the same month last year, buoyed by an increase in refinery output of 3.9% due to better refining margins.
Cumulatively, total output of the chemicals cluster grew by 10.1% in the first nine months this year despite the cumulative decline of 3.5% in the petroleum segment.
Total manufacturing output declined by 7.1% in September compared to a month earlier, mainly due to the exceptionally high output of the biomedical sciences (BMS) cluster in previous months. BMS output grew by 77.2% year-on-year in August, but by only 16.2% in September.
This was due mainly to the pharmaceuticals segment whose output increased by only 11.9% after exceptionally high growths in previous months.
Compared to September last year, overall manufacturing output increased by 10.4% this September with all clusters recording higher output.
On a cumulative basis, manufacturing output grew by 7.5% for the first nine months of this year compared to the same period last year.
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