S'pore Nov factory output up 14.3%, boosted by pharma sector

Singapore's factory output in November saw a third straight month of solid growth, though at a slower pace, thanks to a surge in pharmaceutical production.

- Benjamin Lim

Analysts say this underscores the resilience in Singapore's manufacturing sector. They warned, however, there could be repercussions from front-loading activities in response to US tariffs as seen in sharp jumps in pharma output in the face of potential levies.

Total manufacturing output rose 14.3 per cent year on year, easing from October's revised growth of 28.9 per cent, according to data from the Economic Development Board (EDB) released on Dec 26.

This was also just under the 15 per cent rise forecast by analysts in a Bloomberg poll.

Excluding volatile biomedical manufacturing, manufacturing output increased 4.6 per cent.

Biomedical output jumped 79.3 per cent in November, after an 89.8 per cent increase in October. Growth was driven by pharmaceutical output, which soared 124.3 per cent after October's 122.9 per cent surge.

The medical technology segment saw output increase 11.3 per cent, supported by sustained demand for medical devices.

This increase could be due to pharmaceutical firms ramping up production and exports ahead of any potential US tariffs on the sector, said Maybank economist Brian Lee.