, Singapore

Retail sales jump 8.7% YoY in March

The increase was driven by larger growth in mutiple industries.

The retail sector bounced back from its fall in February, recording an 8.7% YoY higher sales, and a $3.9b sales value in March.

Excluding motor vehicles, sales jumped 13.4% YoY, whilst the sales value was at $3.3b.

Of the total retail sales, 14.9% were online sales,  a higher sales proportion than February at 13.5%. 

According to the Department of Statistics Singapore, the increase was driven by the larger growth in industries like computer and telecommunications equipment which saw a 27.3% YoY jump in sales, the highest for the month.

Other industries which posted higher YoY growths were cosmetics, toiletries and medical goods (25.2%), and wearing apparel and footwear (25.8%).

Industries such as petrol services stations (23.9), department stores (17.2), furniture and household equipment, food and alcohol (19.6), watches and jewellery (14.0%), and supermarkets and hypermarkets (9.3), also saw increases in their respective sales.

On the other hand, sales of motor vehicles, optical goods and books, mini-marts and convenience stories all dipped in March, falling by 14.1%, 8.2%, and 6.0%, respectively.

 

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