Foreign wholesale trade up 4.9% QoQ in Q2

The growth was driven by expansions in most wholesale trade industries.

Foreign wholesale sales rose 4.9% QoQ in the second quarter of 2022, data from the Department of Statistics Singapore (SingStat) showed.

Excluding petroleum, which rose 9.2% QoQ, overall foreign wholesale sales only rose 0.7% QoQ.

Singstat said the overall growth was driven by expansions in most wholesale trade industries, led by ship chandlers and bunkering which rose 25.4% QoQ. 

Other industries which saw growth during the quarter were General Wholesale Trade (16.1% QoQ), Other Wholesale Trade (+6.9%), and Chemicals & Chemical Products (+4.4% QoQ).

On the other hand, Food, Beverages & Tobacco (-8.2% QoQ), Transport Equipment (-4.7% QoQ), Telecommunications & Computers (-4.3% QoQ), Electronic Components (-4.2% QoQ), Industrial & Construction Machinery (-1.4% QoQ), and Metals, Timber & Construction Materials (-1.1% QoQ) contracted in Q2.