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Singapore domestic wholesale trade contracts 15.9 pct in Q4

Xinhua, February 19, 2016 Adjust font size:

Singapore's domestic wholesale trade fell again by 15.9 percent in the fourth 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.

However, after adjusting for price changes, overall domestic wholesale trade rose 13.8 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 14.4-percent drop in foreign wholesale trade, SingStat said.

Excluding petroleum, foreign wholesale trade dropped 7.9 percent. After adjusting for price changes, overall foreign wholesale trade expanded by 7.2 percent year-on-year.

On a quarter-on-quarter basis, domestic wholesale trade fell 1.1 percent in the fourth quarter, while foreign wholesale trade fell 7.1 percent.

The Wholesale Trade Index (WTI) measures the short-term performance of wholesale trade activities.

Two series of the WTI are compiled, the Domestic WTI and Foreign WTI. The Domestic WTI records wholesale sales in Singapore.

The Foreign WTI pertains to wholesale sales outside Singapore, which comprises domestic exports, re-exports, transhipment cargo and offshore merchandise. Enditem