S'pore Q1 domestic wholesale trade dips
SINGAPORE'S domestic wholesale trade fell 2.8 per cent in the first quarter of this year compared to a year ago, data released by the Department of Statistics Singapore yesterday showed.
The decrease was largely due to the petroleum and petroleum products sector as well as telecommunications and computers, which registered declines of 7.6 per cent and 13.4 per cent in domestic sales, respectively.
Excluding petroleum, the domestic wholesale trade rose 2.5 per cent, compared to a year ago.
The general wholesale-trade sector reported the largest growth of 35.4 per cent in domestic sales in first quarter of this year, primarily due to an increase in demand in the domestic market.
Similarly, the chemicals and chemical products sector recorded an increase of 13.1 per cent in domestic sales.
After adjusting for price changes, overall domestic wholesale trade registered a smaller year-on-year decline of 1.4 per cent. Quarter-on-quarter, the domestic wholesale trade (seasonally adjusted) decreased 0.6 per cent in Q1.
Foreign wholesale trade fell 1.1 per cent year-on-year in the first quarter, led by declines in the chemicals and chemical products as well as telecommunications & computers sectors.
Excluding petroleum, foreign wholesale trade dipped 0.8 per cent. After adjusting for price changes, foreign wholesale trade was down by 0.2 per cent year-on-year.
Quarter-on-quarter, foreign wholesale trade (seasonally adjusted) fell 4 per cent in Q1 over the fourth quarter of last year.
THE BUSINESS TIMES