ECONOMY | Staff Reporter, Singapore

Domestic wholesale trade up 26.6% in Q3

Sales of petroleum and petroleum products ballooned 54.8%.

Singapore’s wholesale domestic trade extended its positive run after surging 26.6% YoY and 9.6% QoQ in Q3, according to a release from the statistics department. Excluding petroleum, domestic wholesale trade rose 4.9% YoY and 2.8% QoQ.

Petroleum and petroleum products booked the largest sales growth at 54.8% on a YoY basis in line with higher product prices followed by household equipment and furniture (20.7%).

Domestic sales of chemicals and chemical products, telecommunications and computers and ship chandlers and bunkering rose by 14.5%, 10.8% and 8.1% respectively.

Meanwhile, domestic sales of metals, timber and construction materials booked the largest YoY decline at 8.7%. Sales of industrial and construction machinery and transport equipment also fell by 5.4% and 0.7% respectively.

Upon price adjustments, overall domestic wholesale trade increased 2.6% YoY and 2.9% QoQ.

Petroleum and related products similarly boosted foreign wholesale trade which rose by 19.1% YoY and 5.6% QoQ in Q3. Upon price adjustments, overall foreign wholesale trade volume dipped 0.4% YoY and rose 0.8% QoQ in Q3.

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