Domestic trades jump by 49.8% YoY for Q2 2021
The trade of metals, timber, and construction materials contributed the most, seeing a 105.2% increase.
The Department of Statistics Singapore saw a 49% increase in domestic wholesale trade for the second quarter of 2021.
The recorded number is 1.2% more than the first quarter of the same year.
Major contributors to the jump include the construction, petroleum, and ship chandlers and bunkering sectors at 105.2%, 79.1%, and 73.5%, respectively. Factors that further boosted these industries include more demand for materials and higher oil prices.
Meanwhile, the food, beverage, and tobacco industries were the only branch to record a loss at -4.8%, which can be attributed to lower sales of grocery items.