S'pore's Oct factory output jumps 29.1%, eclipsing forecasts

Increase led by electronics, pharma, with US tariff delay and AI demand driving output

- Benjamin Lim Correspondent

Singapore’s factory output accelerated in October, swelling more than expected, led by strong electronics and pharmaceutical production.

Analysts said the manufacturing sector has demonstrated continued resilience to defy the shocks from US tariffs and geopolitical uncertainties. The delay in the implementation of US pharma tariffs and relentless artificial intelligence (AI) demand drove output in October, they added.

Manufacturing output jumped 29.1 per cent year on year, far exceeding the 6.7 per cent rise forecast by analysts in a Bloomberg poll and the revised 16.2 per cent growth in September.

Excluding the biomedical industry, production in October rose 15.8 per cent, according to data released by the Economic Development Board (EDB) on Nov 26.

On a seasonally adjusted month-on-month basis, manufacturing output increased by 11.5 per cent. Excluding biomedical manufacturing, it rose 11.7 per cent.

The sector, typically known to be volatile, saw output swelling 89.6 per cent year on year, after a 45.6 per cent rise in September.

Pharmaceuticals soared 122.9 per cent because of higher production of active pharmaceutical ingredients and biological products. The medical technology segment grew 7.3 per cent on the back of sustained export demand for medical devices.