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Singapore’s retail sales rise 2.7% on year in October

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/12/2015 (11:32)
According to data released by Singapore’s Department of Statistics, the country’s October retail sales rose 2.7% on the year to reach SGD3.5 billion ($2.5 billion), up from SGD3.4 billion ($2.4 billion) in the same month of 2014. A surge of 61.8% on a yearly basis in motor vehicle sales was cited as the main reason behind stronger retail sales. Retail sales also climbed 1% on the month; however, excluding motor vehicle sales, retail sales declined 0.3%.

The data showed that sales of medical goods and toiletries also witnessed a strong performance, increasing 11.3% in October from a year earlier.

However, sales of telecommunications equipment and computers recorded the largest drop, declining by 19.4% on the year. Retail sales for the food and beverage services also declined 3.8% in October to reach SGD650 million ($461 million).
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