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Singapore's Q1 domestic wholesale trade down 25.8 pct on-year

Xinhua, May 20, 2015 Adjust font size:

Domestic wholesale trade in Singapore contracted by 25.8 percent year on year in the first quarter of 2015, arising from lower prices of petroleum and chemical products, according to the latest report by the Department of Statistics on Wednesday.

Excluding petroleum, domestic wholesale trade declined 12.6 percent when compared to the first quarter of 2014. However, after adjusting for price changes, overall domestic wholesale trade registered a year-on-year increase of 5.4 percent.

On a quarter-on-quarter basis, domestic wholesale trade fell 16. 4 percent in Q1. Excluding petroleum, domestic wholesale trade declined 5.2 percent, while after removing the price effect, overall domestic wholesale trade decreased marginally by 0.4 percent over the previous quarter.

Foreign wholesale trade dropped 18.8 percent year on year, while on a quarter-on-quarter basis, it recorded a decline of 11.9 percent in the first quarter of 2015, dragged by declines in the ship chandlers & bunkering, petroleum & petroleum products and chemicals & chemical products industries.

Excluding petroleum, foreign wholesale trade declined 5.8 percent on quarter. After removing the price effect, overall foreign wholesale trade increased 2.3 percent.

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