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Singapore's domestic wholesale trade down 13.8 pct in Q3 year-on-year

Xinhua, November 18, 2016 Adjust font size:

Domestic wholesale trade in Singapore contracted 13.8 percent in the third quarter of 2016 year-on-year, said Department of Statistics Singapore on Friday in its latest report.

Excluding petroleum, domestic wholesale trade declined 10.6 percent compared to the same period last year, according to the report.

The decline in nominal domestic wholesale trade value was due partly to lower prices of petroleum and chemical products compared to the same period last year. After adjusting for price changes, overall domestic wholesale trade registered a smaller year-on-year decrease of 5.1 percent.

On a quarter-on-quarter basis, domestic wholesale trade contracted 0.3 percent in the third quarter over the previous one. Excluding petroleum, domestic wholesale trade increased 1.1 percent. After removing the price effect, overall domestic wholesale trade declined 1.9 percent over the previous quarter.

As for foreign wholesale trade, it dropped 8.8 percent year-on-year due partly to lower prices of petroleum and chemical products. Excluding petroleum, foreign wholesale trade declined 5.7 percent. After adjusting for price changes, overall foreign wholesale trade increased 0.8 percent year-on-year.

On a quarter-on-quarter basis, foreign wholesale trade rose 3.6 percent in third quarter this year. Excluding petroleum, foreign wholesale trade expanded by 6.8 percent over the previous quarter. After removing the price effect, overall foreign wholesale trade registered an increase of 3.2 percent.

Wholesale Trade Index (WTI), composed of two series, namely domestic WTI and foreign WTI, measures the short-term performance of 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 the sales volume. Endit