Domestic wholesales jump 5.1% QoQ in Q1

The increase was buoyed by expansions in several industries.

Domestic wholesales increased by 5.1% quarter-on-quarter (QoQ) in the first quarter (Q1), data from the Department of Statistics Singapore (SingStat) showed.

Excluding petroleum, the overall increase for wholesale trade would have been 5.2%.

The increase in overall wholesale trade was buoyed by expansions in several industries, according to SingStat.

These industries include chemicals and chemical products, and electronic components, which saw a 12.0% QoQ and 11.3% QoQ jump, respectively, on the back of higher sales of petrochemicals, semiconductors, and microchips.

Other industries that recorded increases were metals, timber, and construction (+7.5%); industrial and construction machinery (+3.9%), other wholesale trade (+20.0%), and petroleum and petroleum products (+5.0%).

The other half of the industries, however, namely food, beverages and tobacco (-1.6%); telecommunications and computers (-2.4%); ship chandlers and bunkering (-1.3%); household equipment and furniture (-4.9%); and general wholesale trade (-8.2%) all declined in Q1.

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