Singapore wholesale trade grows 10.3% in second quarter

This article is more than 12 months old

Aug 21, 2018 06:00 am

Singapore's total domestic wholesale trade rose 10.3 per cent year-on-year in the second quarter of the year, according to data released by the Department of Statistics yesterday.

With petroleum stripped out, domestic wholesale trade fell 0.4 per cent compared to a year ago. After adjusting for price changes, overall domestic wholesale trade registered a year-on-year fall of 5.4 per cent.

On a quarter-on-quarter basis, domestic wholesale trade rose a seasonally adjusted 2.4 per cent. Excluding petroleum, domestic wholesale trade increased 5.4 per cent.

Higher prices of petroleum and chemical products compared to the second quarter last year led to year-on-year growth in petroleum and petroleum products (23.3 per cent), ship chandlers and bunkering (4 per cent) and chemicals and chemical products (3.5 per cent).

After removing the price effect, the three industries registered falls of 7.8 per cent, 21.1 per cent and 17.2 per cent respectively in domestic sales volume.

Telecomms and computers rose 11.8 per cent. Sales in metals, timber and construction materials industry fell 19.4 per cent year-on-year. - THE STRAITS TIMES