27 December 2002 02:33 [Source: ICIS news]
SINGAPORE (CNI)—Singapore’s chemicals cluster grew by 11% year-on-year in November as all its segments recorded output increases, according to the monthly manufacturing data released by the Economic Development Board (EDB).
Within the chemicals cluster, the petroleum industry grew by 12.7%, as better margins again stimulated output. The production of petrochemicals continued to increase steadily by 10%, with new plants coming onstream in this period.
However, output of the biomedical sciences (BMS) cluster declined by 36% in November year-on-year arising from a 42.5% decline in the pharmaceuticals segment. The effects of a major maintenance shutdown in October and a different product-mix of fine chemicals contributed to the declines in November.
Cumulatively, output of the BMS cluster grew by 40.7% in the
first eleven months of 2002.
Based on the seasonally adjusted (SA) month-on-month growth, Singapore’s total manufacturing output dipped by 0.5% in November over October. On a year-on-year basis, total manufacturing output showed a dip of 0.7%. This was due mainly to lower output in the biomedical science and engineering clusters.
However, on a three-month moving average (MMA) basis, total manufacturing output grew by 7.3% in November. For the first eleven months this year, total manufacturing output still maintained a growth of 7.2% over the same period in 2001.
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