Domestic wholesale trade dipped 25.8% in Q1

Due to lower petrol prices.

Singapore's domestic wholesale trade registered a 25.8% year-on-year decline in the first quarter on back of lower prices of petroleum and chemical products.

Data released today by the Department of Statistics showed that excluding petroleum, domestic wholesale trade declined 12.6% compared to the same period last year.

After adjusting for price changes, overall domestic wholesale trade registered a year-on-year increase of 5.4%.

On a seasonally adjusted quarter-on-quarter basis, domestic wholesale trade dipped 16.4% in Q1. Excluding petroleum, domestic wholesale trade declined by a softer 5.2%.

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