Transport equipment leads foreign wholesale trade rebound in 1Q12
The sector alone recorded an impressive 29.1% qoq growth due to booming offshore trade in the first quarter.
Foreign wholesale trade also benefited from strong performances from other sectors like food, beverages & tobacco; telecommunications & computers; and household equipment & furniture which grew between 5-8.8% qoq.
Here's more from Statistics Singapore:
Compared to the previous quarter, foreign wholesale trade (seasonally adjusted) rose 6.2% in first quarter 2012. Excluding petroleum, foreign wholesale trade grew by 1.9%. After removing the price effect, foreign wholesale trade registered an increase of 3.8%.
On a year-on-year basis, foreign wholesale trade grew by 12.7%. Excluding petroleum, foreign wholesale trade rose 5.5%. After adjusting for price changes, foreign wholesale trade increased 8.6%.
Quarter-on-Quarter Change (Seasonally Adjusted). After seasonal adjustment, foreign wholesale trade of the transport equipment sector recorded a strong positive growth of 29.1%, due to higher offshore trade in first quarter 2012 compared to the previous quarter. Other sectors which also reported higher foreign wholesale sales included food, beverages & tobacco (8.8%), telecommunications & computers (7.4%), household equipment & furniture (7.3%), petroleum & petroleum products (5.0%), ship chandlers & bunkering (3.3%) and industrial & construction machinery (1.6%).
On the other hand, the general wholesale trade and chemicals & chemical products sectors posted decreases of 6.4% and 5.6% respectively over fourth quarter 2011.
Year-on-Year Change. Compared to the same period a year ago, the telecommunications & computers sector
registered a 21.5% increase in foreign wholesale trade. The transport equipment, food, beverages & tobacco and industrial & construction machinery sectors also reported higher foreign sales of between 10.6% and 14.1%.
Positive growth was also experienced in the petroleum & petroleum products (21.1%) and ship chandlers & bunkering (13.5%) sectors, due largely to higher prices compared to a year ago. After removing the price effect, foreign wholesale trade volume of the petroleum & petroleum products sector increased by a smaller 6.1% while that of the ship chandlers & bunkering sector declined marginally by 0.5%.
The general wholesale trade and chemicals & chemical products sectors reported smaller growth of 5.0% and 1.3% respectively while the household equipment & furniture sector experienced a marginal decline of 1.8% over first quarter 2011.
This signals chemical firm Eastman’s commitment to its Asian clients.
Find out how the drastic changes in the industry and the “democratisation of information” have helped Saxo Bank succeed.
One of EASB’s full-time lecturer, Willard Tan, shares his incredible educational journey with EASB and how he gives back to his alma mater.
.jpg "Simon Tan")
