Photo by CHUTTERSNAP via Unsplash.

Domestic, foreign wholesale trade sales record double-digit declines in Q3

Petroleum sales dragged down local wholesale trade sales for the quarter.

Singapore’s domestic wholesale trade sales rose in the third quarter compared to the previous three-month period but remained lower than a year ago.

Total domestic wholesale sales fell 12.1% year-on-year in Q3 compared to the same quarter a year ago. Excluding petroleum, sales were 0.2% lower.

Things are looking up on a quarterly basis, however, with sales 5.7% higher than in Q2. Excluding petroleum, sales are 5% higher.

Foreign wholesale trade sales are also lower than a year ago, dropping 6.9% year-on-year in Q3. Excluding petroleum, sales are 8.1% lower.

Similar to domestic wholesale trade sales, growth was recorded compared to Q2. Total foreign wholesale trade sales are 10.2% higher in Q3 than the previous quarter, and 4.2% higher if excluding petroleum.

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