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Singapore's Q2 wholesale trade rises 10.3%
SINGAPORE'S total domestic wholesale trade rose 10.3 per cent year-on-year in the second quarter of 2018, according to data released by the Department of Statistics on Monday.
With petroleum stripped out, domestic wholesale trade fell 0.4 per cent compared to a year ago. After adjusting for price changes, overall domestic wholesale trade registered a year-on-year decrease of 5.4 per cent.
On a quarter-on-quarter basis, domestic wholesale trade rose a seasonally adjusted 2.4 per cent. Excluding petroleum, domestic wholesale trade increased 5.4 per cent.
Higher prices of petroleum and chemical products compared to the second quarter of 2017 led to growth in petroleum and petroleum products (23.3 per cent), ship chandlers and bunkering (4.0 per cent), and chemicals and chemical products (3.5 per cent).
After removing the price effect, the three industries registered decreases of 7.8 per cent, 21.1 per cent and 17.2 per cent respectively in domestic sales volume.
Telecommunications and computers increased 11.8 per cent on higher sales of computer products, while sales in the metals, timber and construction materials industry dropped 19.4 per cent year-on-year, partly due to lower demand for metals and metal products.