Singapore 1Q domestic wholesale trade slips 22.6%

SINGAPORE (May 20): Singapore’s domestic wholesale trade shrank in 1Q this year by 22.6% from a year ago, partly as a result of lower weaker prices of petroleum and chemical products, according to data released by the Singapore Department of Statistics on Friday.

The shipchandlers & bunkering, petroleum & petroleum products, and general wholesale trade sectors experienced the sharpest y-o-y drops in domestic sales of 39.9%, 38.2% and 34.3% respectively.

Excluding petroleum, domestic wholesale trade fell by 11.4% as opposed to 1Q15. Overall domestic wholesale trade chalked a smaller y-o-y decrease of 1.7% after adjusting for price changes.

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