Domestic wholesale trade grows by 10.3% in Q4

Domestic wholesale trade expanded by 10.3 per cent on a seasonally adjusted basis in the fourth quarter of last year over the previous quarter, owing partly to higher prices of petroleum and chemical products.

Excluding petroleum, trade went up 5.3 per cent.

After removing the price effect, overall domestic wholesale trade grew by 0.5 per cent over the previous quarter.

Compared with the same period a year ago, growth in trade was flat for the quarter. Excluding petroleum, it fell 3.7 per cent, and decreased 7.4 per cent after adjusting for price changes.

Business receipts for general wholesale trade went up 28.2 per cent quarter-on-quarter - the highest among the different sectors. This was followed by ship chandlers and bunkering, petroleum and petroleum products, and household equipment and furniture.

Transport equipment clocked the steepest fall of 12.3 per cent over the previous quarter, followed by telecommunications and computers, as well as metals, timber and construction materials.

On a year-on-year basis, business receipts for household equipment and furniture jumped the most at 33.5 per cent, while telecommunications and computers fared the worst, falling 27 per cent.

Foreign wholesale trade rose 9.1 per cent in the quarter, said the Department of Statistics yesterday. Excluding petroleum, it expanded by 7.7 per cent over the previous quarter. On a year-on-year basis, it grew by 9.1 per cent. Excluding petroleum, it went up 10.4 per cent.

BUSINESS TIMES

Correction note: An earlier version of this article said foreign wholesale trade on a year-on-year basis was flat. It is wrong. It grew by 9.1 per cent. 

A version of this article appeared in the print edition of The Straits Times on February 21, 2017, with the headline 'Domestic wholesale trade grows by 10.3% in Q4'. Print Edition | Subscribe