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...- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
- China’s post-holiday polymer outlook supported by supply limitations, crude oil
- US PE exports hit record high for 2020 despite production and logistics hurdles
- African PP, PE markets firmer on continued tightness in supplies
- Lack of sales pressure supports SEA PE markets
- Will soaring prices attract PP, PE imports to Europe?
