Singapore's Q4 domestic wholesale trade down 9.4 pct
Xinhua, February 23, 2015 Adjust font size:
Domestic wholesale trade in Singapore contracted by 9.4 percent on quarter in the fourth quarter of 2014, due to a plunge in sales of petroleum and petroleum products, general wholesale trade as well as ship chandlers and bunkering, according to the latest report by the Department of Statistics on Monday.
Excluding petroleum, domestic wholesale trade declined 3.8 percent, while after removing the price effect, overall domestic wholesale trade grew by 3.3 percent over the previous quarter.
The ship chandlers and bunkering industry reported a significant decline of 26.5 percent in the fourth quarter, followed by petroleum and petroleum products and general wholesale trade, which saw a decline of 14.9 percent and 13.4 percent, respectively.
On the other hand, the telecommunications and computers industry registered an increase of 23.1 percent in domestic sales, the biggest increase among all sectors.
On a year-on-year basis, domestic wholesale trade fell 12.9 percent in the fourth quarter. Excluding petroleum, domestic wholesale trade dropped 7.0 percent.
As to foreign wholesale trade, it recorded an decline of 8.3 percent on quarter in the fourth quarter last year, dragged by a decline of 19.2 percent in petroleum and petroleum products.
Singapore's Wholesale Trade Index measures the short-term performance of the country's wholesale trade activities. The indices are presented at both current prices and constant prices.
The indices at current prices measure the changes in sales value which can result from changes in both price and quantity. By removing the price effect, the indices at constant prices measure the changes in sales volumes. Endi