Foreign wholesale trade slips 2.4% YoY in Q3 as sectors struggle

General Wholesale Trade posted the largest decline.

Foreign wholesale sales dipped 2.4% QoQ and 0.4% YoY in the third quarter of 2024, according to data from the Department of Statistics Singapore (SingStat).

Singstat attributed the decline to declines in several industries, including Petroleum & Petroleum Products which reported a 2.5% QoQ decline.

Other industries which reported quarter-on-quarter declines include General Wholesale Trade (-17.9%), Industrial & Construction
Machinery (-2.7%), Transport Equipment (-3.8%), Metals, Timber & Construction Materials (-1.9%), Electronic Components (-3.9%), Ship Chandlers & Bunkering (-11.9%), and Chemicals & Chemical Products (-2.7%).

The rest of the industries reported quarter-on-quarter increases, led by Food, Beverages & Tobacco (8.3%).

Telecommunications & Computers (0.7%), Household Equipment & Furniture (0.3%), and Other Wholesale Trade (0.4%) also reported QoQ expansions.

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