Singapore domestic wholesale trade expands 23.5% in Q1

There was significant growth in domestic sales in the ship chandlers & bunkering trade in the first quarter of 2017 compared to the same period a year ago.
There was significant growth in domestic sales in the ship chandlers & bunkering trade in the first quarter of 2017 compared to the same period a year ago.PHOTO: ST FILE

SINGAPORE - Singapore's domestic wholesale trade expanded by 23.5 per cent in first quarter of 2017 compared to the same period a year ago, and by 1.6 per cent over the fourth quarter of 2016.

Excluding petroleum, this trade rose by a smaller 7.6 per cent from a year ago, according to data from the Singapore Department of Statistics released on Friday (May 19).

After adjusting for price changes though, overall domestic wholesale trade fell 5 per cent from a year ago.

On a year-on-year basis, there was significant growth in domestic sales in the ship chandlers & bunkering (82.8 per cent), petroleum & petroleum products (53.7 per cent) and chemicals & chemical products (41 per cent) industries in first quarter 2017, due primarily to increases in the prices of petroleum and chemical products.

Get The Straits Times
newsletters in your inbox

After removing the price effect, the ship chandlers & bunkering and chemicals & chemical products industries recorded smaller increases of 9 per cent and 6 per cent respectively while the domestic sales of the petroleum & petroleum products industry fell 9.3 per cent.

Higher domestic sales were reported by the general wholesale trade (6.1 per cent), transport equipment (5.3 per cent), industrial & construction machinery (3.6 per cent), food, beverages & tobacco (2.9 per cent) and electronic components (0.9 per cent) industries in first quarter 2017.

In comparison, domestic sales of the telecommunications & computers, household equipment & furniture and metals, timber & construction materials industries contracted by 10.9 per cent, 5.9 per cent and 5.1 per cent respectively during the same period.