ECONOMY | Staff Reporter, Singapore

Domestic wholesale trade grows 18.5% in Q2

Ship chandlers & bunkering posted the highest growth at 43.9%.

Singapore's domestic wholesale trade rose 18.5% YoY in Q2.

According to the Department of Statistics, excluding petroleum, overall domestic wholesale trade grew by 4.8%.

Meanwhile, foreign wholesale trade also increased 12.2%. Excluding petroleum, foreign wholesale trade grew by 11.8%.

Under domestic wholesale trade, ship chandlers & bunkering, petroleum & petroleum products, and chemicals & chemical products industries grew by 43.9%, 37.2%, and 2.6% respectively. This was boosted by higher petroleum and chemical prices.

General wholesale trade growth increased 25.5%, whilst electronic components and food rose 10.7% and 0.1%.

Meanwhile, industries like metals, timber and construction materials, telecommunications and computers reported sales drops between 0.1% and 7.3%.

Under foreign wholesale trade, petroleum, chemical, and ship chandlers industries also showed growth rates of 12.9%, 8.8%, and 2.9%, respectively.

Six industries also showed double-digit growth, namely, the industrial and construction machinery at 26.2%, food at 26.1%, metals at 15.9%, household equipment at 14.6%, general wholesale trade at 12.1%, and electronic components at 10.8%.

Transport equipment industry experienced a 3.7% in foreign sales.

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