The shrinkage of Singapore's wholesale trade industry has intensified. The Domestic Wholesale Trade Index fell 7.2% year-on-year, higher than 3.7% in the fourth quarter of last year. Compared with the previous quarter, domestic wholesale sales i...
The shrinkage of Singapore's wholesale trade industry has intensified. The Domestic Wholesale Trade Index fell 7.2% year-on-year, higher than 3.7% in the fourth quarter of last year.
Compared with the previous quarter, domestic wholesale sales in the first quarter of this year fell by 5.3% seasonally. If oil trade is excluded, domestic wholesale sales fell by 7.3% month-on-month.
In addition, the Foreign Wholesale Trade Index (Foreign Wholesale Trade Index) increased by 1.1% year-on-year, reversing the decline of 1.7% year-on-year in the previous quarter. If oil trade was not included, it rose 7.7% year-on-year, up from 3.4% in the previous quarter.
The wholesale trade index released by the Singapore Bureau of Statistics on Tuesday (May 20) showed that if oil trade was excluded, domestic wholesale sales fell 7.8% year-on-year in the first quarter, also higher than 1.1% in the fourth quarter of last year.
