19 February 2010 10:09 [Source: ICIS news]
SINGAPORE (ICIS news)--Singapore’s chemical production in the fourth quarter of 2009 rose 13% year on year due to a continued recovery in trade worldwide, the country’s Ministry of Trade and Industry said on Friday.
The fourth quarter growth in the chemicals sector was led by the petrochemicals segment, which registered a 38.8% year-on-year rise, followed by the specialties chemicals segment with a 33.7% year-on-year increase, the ministry said in a statement.
For the whole of 2009, chemicals production fell 8.8% year on year, it said.
Meanwhile, Singapore’s production of electronics, the biggest sector in the city-state’s total manufacturing output and an important downstream industry for the chemicals sector, grew 27% year on year in the fourth quarter.
But for the whole of 2009 the sector shrank 8.6% due to poor performance in the infocomms and consumer electronics, data storage and semiconductor segments, the ministry said.
Overall, Singapore’s manufacturing output increased 2.2% year on year in the fourth quarter, while the full-year number showed an annual decline of 4.1%, according to the statement.
Total chemicals output in 2009 was valued at Singapore dollars (S$) 58.5bn ($41.5bn), down 38.8% year on year, it added.
($1 = S$1.41)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|