, Singapore

Domestic wholesale trade tumbles 22.6% in Q1

Blame weak petroleum prices.

Singapore's domestic wholesale trade slumped by 22.6% year-on-year in the first quarter, on back of a 38.2% drop in petroleum sales.=

Excluding petroleaum, domestic wholesale trade dropped by 11.4%. The decline in trade value was due partly to lower prices of petroleum and chemical products, the Department of Statistics said.

On a quarter-on-quarter basis, domestic wholesale trade dropped by 17.2%. Excluding petroleum, the contraction was at a smaller extent of 7.2%.

Meanwhile, foreign wholeale trade dropped 13% quarter-on-quarter and 17.4% year-on-year.
 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

Domestic supply prices fall 1.9% in May
Lower petroleum prices offset continued increases in non-oil goods.
Economy
Manufactured product prices fall 0.2% in May
Lower petroleum prices offset continued gains in non-oil manufactured products.
Manufacturing
Maybank lifts Singapore GDP forecast on manufacturing growth
AI-related demand continued to support electronics and precision engineering.

Exclusives

Singapore, Hong Kong take rival paths to capture global gold trade
One builds MAS-backed vaulting for central banks, the other opens a pipeline to Shanghai.
Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.