25 April 2014 07:49 [Source: ICIS news]
SINGAPORE (ICIS)--Singapore’s chemicals cluster saw its output rise by 5.2% year on year in March, tracking the growth in overall manufacturing and exports, the Economic Development Board (EDB) said on Friday.
On a year-on-year basis, output from the petrochemicals segment of the chemicals cluster rose by 14.4% “as plants that started operations last year continued to ramp up their production”, EDB said in its monthly report.
Singapore’s exports of petrochemicals surged by 43.1% year on year in March this year, the third straight month of strong growth.
On the other hand, the petroleum segment’s throughput contracted by 6.4% as a result of plant maintenance shutdowns.
Singapore’s overall manufacturing output grew by 12.1% year on year in March this year.
On a seasonally adjusted month-on-month basis, the country’s manufacturing output increased by 6.1% in March 2014.
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