Singapore’s retail sales continue to increase in Oct
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by Singapore’s Department of Statistics (SingStat), the country’s retail sales increased 2.2% on the year in October owing to an increase in motor vehicles sales. Excluding motor vehicles, Singapore’s total October retail sales fell by 0.3% from a year earlier.
Meanwhile, overall retail sales were up by 1.7% on a monthly basis. Retail sales excluding motor vehicles also rose by 1.5% in October.
The total retail sales value was reported at S$3.7 billion ($2.57 billion) in October, up from S$3.6 billion ($2.50 billion) in the same month a year earlier.
Retail sales in the motor vehicles sector rose 14.5% year over year in October, posting the largest increase among all sectors. Retail sales in supermarkets, department stores, medical goods and toiletries, petrol service stations, recreational goods, food and beverages, watches and jewellery also rose by between 0.3% and 5.6%.
Meanwhile, the largest decline was seen in sales in computer and telecommunications equipment sectors, dropping by 8.1% from the previous year. Retail sales in wearing apparel and footwear, furniture and household equipment, as well as optical goods and books were also down by between 1.8%-3.5%.
Meanwhile, overall retail sales were up by 1.7% on a monthly basis. Retail sales excluding motor vehicles also rose by 1.5% in October.
The total retail sales value was reported at S$3.7 billion ($2.57 billion) in October, up from S$3.6 billion ($2.50 billion) in the same month a year earlier.
Retail sales in the motor vehicles sector rose 14.5% year over year in October, posting the largest increase among all sectors. Retail sales in supermarkets, department stores, medical goods and toiletries, petrol service stations, recreational goods, food and beverages, watches and jewellery also rose by between 0.3% and 5.6%.
Meanwhile, the largest decline was seen in sales in computer and telecommunications equipment sectors, dropping by 8.1% from the previous year. Retail sales in wearing apparel and footwear, furniture and household equipment, as well as optical goods and books were also down by between 1.8%-3.5%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months
- Thai PP, PE markets subdued by slowing economy, competitive imports
- Vietnam’s PE market extends losses into June on frail demand
- Asian spot naphtha prices pull back from multi-month highs
