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Singapore domestic wholesale trade contracts 26 pct in Q3

Xinhua, November 20, 2015 Adjust font size:

Singapore's domestic wholesale trade fell significantly by 26 percent in the third quarter of 2015, compared to the year-ago quarter, due to lower prices of petroleum and chemical products, the Department of Statistics Singapore (SingStat) announced on Friday.

Excluding petroleum, domestic wholesale trade declined 12.1 percent year-on-year.

However, after adjusting for price changes, overall domestic wholesale trade rose 7.4 percent year-on-year.

Wholesale trade is one of the largest sectors in Singapore's economy, providing a significant number of jobs.

Lower prices of petroleum and chemical products also led to a 15.1-percent drop in foreign wholesale trade, SingStat said. Excluding petroleum, foreign wholesale trade dropped 1.7 percent. After adjusting for price changes, overall foreign wholesale trade expanded by 10.4 percent year-on-year.

On a quarter-on-quarter basis, domestic wholesale trade fell 9.6 percent in the third quarter, while foreign wholesale trade fell 3.6 percent. Enditem