Petroleum dragged domestic wholesale trade down 1.8% year-on-year in 4Q 2010

But, petroleum led the domestic wholesale trade to increase 7.2% q-o-q in 4Q 2010.

According to the Department of Statistics Singapore, the q-o-q growth was primarily attributed to higher sales in petroleum & petroleum products and chemicals & chemical products. Excluding petroleum, overall domestic sales increased 2.7%.

Compared to the same period a year ago, excluding petroleum, domestic wholesale trade grew by 2.1%.

Compared to the prevous quarter, foreign wholesale trade (seasonally adjusted) rose 6.6% in fourth quarter 2010, with higher revenue experiences in chemicals & chemical products, food, beverages & tobacco, general wholesale trade and petroleum & petroleum products. Excluding petroleum, the increase in foreign wholesale trade was 3.0%.

On a year-on-year basis, foreign wholesale trade expanded by 17.4%, with double-digit growths registered in most wholesale sectors. Excluding petroleum, foreign wholesale trade increased 16.5%.