Singapore domestic wholesale trade in Q1 up 23.5% from a year ago

SINGAPORE domestic wholesale trade expanded by 23.5 per cent in first quarter 2017 compared to a year ago, and by 1.6 per cent from the preceding quarter.

Excluding petroleum, domestic wholesale trade rose 7.6 per cent from a year ago. After adjusting for price changes, overall domestic wholesale trade fell 5 per cent from a year ago.

Compared to a year ago, there was significant growth of 82.8 per cent in domestic sales in the ship chandlers and bunkering, 53.7 per cent in petroleum and petroleum products and a 41 per cent growth in chemicals and chemical products in Q1 2017 due to higher prices of petroleum and chemical products.

After removing the price effect, the ship chandlers and bunkering as well aschemicals and chemical products industries recorded smaller increases of 9 per cent and 6 per cent, respectively. Domestic sales of the petroleum and petroleum products industry fell 9.3 per cent.

Higher domestic sales were reported by the general wholesale trade, transport equipment, industrial and construction machinery as well as food, beverages and tobacco, and electronic components industries in Q1 2017.

Domestic sales of the telecommunications and computers, household equipment and furniture as well as metals, timber and construction materials industries contracted.