Singapore Domestic Wholesale Trade Up By 7.2%
Domestic wholesale trade (seasonally adjusted) increased 7.2% in fourth quarter 2010 compared to the previous quarter.
The 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, there was a decline of 1.8% for domestic wholesale trade in fourth quarter 2010.
Excluding petroleum, domestic wholesale trade grew by 2.1%.
Foreign Wholesale Trade
Compared to the previous quarter, foreign wholesale trade (seasonally adjusted) rose 6.6% in fourth quarter 2010, with higher revenue experienced 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%.
Domestic Wholesale Trade by Sector Quarter-on-Quarter Change
(Seasonally Adjusted)
Petroleum & petroleum products and chemicals & chemical products sectors reported doubledigit growths of 14.2% and 11.2% respectively in fourth quarter 2010, partly due to higher prices compared to the previous quarter.
After adjusting for price changes, the domestic wholesale trade volume of petroleum & petroleum products sector increased 4.2% while the chemicals & chemical products sector experienced a marginal decline of 0.5%.
Food, beverages & tobacco, general wholesale trade and household equipment & furniture sectors also registered growths of between 7.5% and 9.2% in their domestic sales.
Telecommunications & computers, industrial & construction machinery and ship chandlers & bunkering sectors recorded quarter-on-quarter declines of between 1.3% and 5.8%.
Year-on-Year Change
On a year-on-year basis, transport equipment, timber, paints & construction materials, petroleum & petroleum products, ship chandlers & bunkering, telecommunications & computers, electronic components and chemicals & chemical products sectors reported declines of between 1.4% and 12.1%.
General wholesale trade and food, beverages & tobacco sectors recorded double-digit growths of 18.9% and 11.7% respectively, while industrial & construction machinery and household equipment & furniture sectors registered increases of 8.4% and 4.8% correspondingly.
Foreign Wholesale Trade by Sector
Quarter-on-Quarter Change
(Seasonally Adjusted)
After seasonal adjustment, chemicals and chemical products, food, beverages & tobacco, general wholesale trade and petroleum & petroleum product sectors recorded positive growths of between 9.9% and 12.1% in foreign wholesale trade in fourth quarter 2010 compared to the previous quarter.
Telecommunications & computers and electronic components sectors also experienced relatively smaller increases of 4.7% and 2.3% respectively.
Wholesale sectors that reported quarter-on-quarter declines in foreign wholesale trade in fourth quarter 2010 included industrial & construction machinery (-5.1%), timber, paints and construction materials (-4.5%) and ship chandlers & bunkering (-1.8%).
Year-on-Year Change
As compared to the same period a year ago, all wholesale sectors experienced positive growths in foreign wholesale trade in fourth quarter 2010 (Table 4).
Wholesale sectors that registered positive double-digit year-on-year growths were:
- chemicals & chemical products (33.6%)
- general wholesale trade (24.2%)
- timber, paints & construction materials (22.6%)
- industrial & construction machinery (19.4%)
- petroleum & petroleum products (18.5%)
- household equipment & furniture (15.6%)
- food, beverages & tobacco (15.3%)
- telecommunications & computers (11.0%)
- transport equipment (10.5%)
Topics: 2011, Asia, consumers, domestic demand, economic activity, economic growth, economic recovery, Economy, employment, estimates, GDP, global economic downturn, Governance, gross domestic product, ICT, income growth, infaltion rates, information technology, IT, jobs, labour market, liquidity, manufacturing, MAs, Ministry of Trade, Monetary Authority of Singapore, moniter, monitor, news, Pacific, price, recession, Singapore, technology, unemployment rate
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