Singapore Q2 domestic wholesale trade dips 1.1% on year

Singapore's domestic wholesale trade dipped 1.1 percent in the second quarter (Q2), the Department of Statistics Singapore said on Tuesday. Excluding petroleum, which saw an annual decline of 2.2 percent, domestic wholesale trade remained at similar level compared to the same period of 2012. Sectors of the general wholesale trade, transport equipment and household equipment and furniture registered double-digit annual declines in domestic sales of 16.1 percent, 14.2 percent and 11.7 percent, respectively. Two other sectors, including ship chandlers and bunkering, metals, timber and construction materials saw relatively smaller annual contractions in domestic wholesale trade, with decline of 5. 2 percent and 3.0 percent respectively. On the other hand, the electronic components and telecommunications and computers sectors recorded increases of 15. 1 percent and 10.1 percent respectively in domestic sales over the same period last year. Domestic sales for the food, beverages and tobacco sector also grew by 5.0 percent on year. On a quarter-on-quarter basis, the seasonally adjusted domestic wholesale trade increased 1.1 percent in Q2 compared with that in Q1. Foreign wholesale trade decreased by 1.4 percent on year, partly attributed to a decline in foreign sales of petroleum and petroleum products. Petroleum excluded, it rose 1.1 percent on year.