Singapore retail sales rise in April by 0.3%, extending growth

SINGAPORE - Retail sales in Singapore rose in April, continuing the growth seen in the previous month.

On a year-on-year basis, retail sales grew 0.3 per cent, extending the 1.3 per cent growth in March, according to figures released by the Singapore Department of Statistics on June 5.

Excluding motor vehicles, seasonally adjusted retail sales rose 0.2 per cent from March.

The total retail sales value in April was $3.9 billion. Online sales accounted for 12.6 per cent of this, lower than March’s 13.3 per cent.

Half of the total sales of computer and telecommunications equipment were made online (49.8 per cent). For furniture and household equipment, the online sales proportion was 30 per cent, and for supermarkets and hypermarkets, 13.1 per cent.

Within the retail trade sector, more than half of the industries recorded year-on-year growth in sales in April, with computer and telecommunications equipment sales seeing the highest growth (14.8 per cent).

Sale of watches and jewellery rose 12.9 per cent on higher jewellery sales, while sales of recreational goods rose 4.9 per cent.

In contrast, the petrol service stations sector and the apparel and footwear sector recorded year-on-year sales declines of 10.6 per cent and 10.3 per cent, respectively.

Food and beverage sales increased 1.2 per cent in April on a year-on-year basis, reversing the 2.7 per cent decline in March.

On a seasonally adjusted basis, sales of food and beverage services also increased 1.2 per cent in April compared with the previous month.

The total sales value of food and beverage services in April was estimated at $947 million. Of this, an estimated 25.9 per cent was from online sales, higher than the 25 per cent recorded in March.

Year-on-year declines were seen for restaurants at 3.7 per cent, but fast-food outlets sales saw a rise of 1.9 per cent, while sales for food caterers went up 19.9 per cent.

Overall, retail sales were likely impacted by the challenging recovery in tourist arrivals, which remain below pre-pandemic levels as at April year-to-date, said UOB economist Jester Koh.

Retail sales continue to be weighed down by the diversion of residents spending abroad, with the Singdollar still exhibiting relative strength among the Asian currencies year-to-date, said Mr Koh.

“We continue to foresee downside risks to Singapore’s retail sales over the coming months amid elevated economic uncertainty,” said DBS Bank economist Chua Han Teng.

Weaker domestic labour market conditions, which already softened in the first quarter of 2025, have the potential to further dampen household spending and retail sales, said Mr Chua.

“Heightened global trade policy uncertainty and high global trade frictions will negatively impact Singapore’s export-reliant economy, especially in the second half of 2025,” he added.

“This will, in turn, weigh on business hiring and wage increment, leading to belt-tightening by households, and dragging down retail sales.”