News

Economy

Staff Reporter

, Singapore

Published:

1 year ago

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Domestic wholesale sales fall 3.0% YoY in Q3 amidst industry declines

Petroleum & Petroleum Products impacted sales the most.

Domestic wholesale sales fell 3.8% QoQ and 3.0% YoY in the third quarter of 2024, data from the Department of Statistics Singapore (SingStat) showed.

Singstat attributed the decline to declines in several industries, including Petroleum & Petroleum Products, which reported a 17.2% YoY decline.

Excluding Petroleum & Petroleum Products, domestic wholesale sales would be 5.9% YoY and 0.7% QoQ higher.

Other industries which reported year-on-year declines include Industrial & Construction Machinery (-16.7%), Electronic Components (-16.8%), Household Equipment & Furniture (-7.9%), and General Wholesale Trade (-5.0%).

The rest of the industries reported increases, led by Metals, Timber & Construction Materials, with a 72.5% YoY increase and Transport Equipment, with 38.8% YoY higher sales.

Ship Chandlers & Bunkering (11.8%), Telecommunications & Computers (4.3%), Chemicals & Chemical Products (5.0%), and Food, Beverages & Tobacco (3.2%) also reported year-on-year expansions.

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