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www.chinaview.cn 2009-03-26 15:51:04 Print

Special Report: Global Financial Crisis


SINGAPORE, March 26 (Xinhua) -- Singapore's manufacturing output fell 22.4 percent in February over a year ago, government statistics showed on Thursday.

On a seasonally adjusted month-on-month basis, manufacturing output dipped 2.5 percent in February as global demand continued to shrink in light of the current economic downturn, the Economic Development Board (EDB) said in a statement.

The output of the electronics cluster contracted the most in February with a decrease of 37.3 percent on year.

"As the global economy stagnated, the demand for electronic products remained depressed worldwide, leading to output cuts in all segments," the EDB said.

The output of the biomedical manufacturing cluster, the chemicals cluster and the precision engineering cluster slid 27.9 percent, 22.1 percent and 21.5 percent respectively in February compared to the same month a year ago.

However, the output of transport engineering cluster expanded 18.5 percent year-on-year in February contributed by the marine and offshore engineering and aerospace segments. Output of the general manufacturing industries also increased 0.6 percent in February compared with the same month last year.

The current global economic crisis has affected Singapore's trade-dependent economy. The country's economy grew by 1.1 percent for the whole of 2008, much slower compared with a growth of 7.8 percent in 2007.




Editor: Xiong Tong