ECONOMY | Staff Reporter, Singapore

Foreign wholesale trade expands by 8.1% in Q4

Petroleum sales pushed the growth.

The foreign wholesale trade industry grew 8.1% year-on-year (yoy) for the fourth quarter of 2017, buoyed by petroleum & petroleum products, and industrial & construction machinery.

Foreign sales of petroleum & petroleum products rose by 25.5% yoy due mainly to increase on its prices. Without considering the price effect, the foreign sales of the petroleum products dropped to 10.9%.

Meanwhile, wholesale of industrial & construction machinery grew by 14.5% yoy. However, domestic sales fell by 10.8% yoy.

The construction sector performed weakly in 2017 declining 8.4% due to decrease in private residential and private industrial construction works.

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