Singapore January chemicals output down 12.4% on plant shutdowns

24 February 2012 09:39  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s manufacturing output from its chemicals cluster fell by 12.4% year on year in January, weighed mainly by plant shutdowns, the Economic Development Board (EDB) said on Friday.

All segments within the city-state’s chemicals cluster recorded lower output in January, with production from the specialties and petrochemicals divisions down 12% and 14.2% respectively, the EDB said in its monthly report.

Meanwhile, output from the chemical cluster’s petroleum segment fell 4.7% year on year in January on the back of weak refining margins, the EDB said.

Singapore's overall manufacturing output fell by 8.8% year on year in January, “due to weaknesses in the global economy and lower activities as a result of the Chinese New Year period”, according to the EDB.

Excluding biomedical manufacturing, which grew 27.9% year on year in January, overall factory output fell by 15.3%, it added.

By: Nurluqman Suratman

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