Singapore’s retail sales rise 4.7% on year in November
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by Singapore’s Department of Statistics, the country’s retail sales rose 4.7% on the year to reach SGD3.5 billion ($2.42 billion) in November, up from SGD3.3 billion ($2.29 billion) in the same month of 2014. An annual jump of 59.7% in motor vehicle sales was cited as the main reason behind stronger retail sales, which also climbed 1.4% on the month. However, excluding motor vehicle sales, retail sales declined 2% from a year earlier.
The data showed that sales of medical goods and toiletries also witnessed a strong performance, increasing 9.6% in November compared with the same month of 2014.
However, sales at petrol service stations recorded the largest drop, declining by 15.8% on the year. Retail sales for the food and beverage sector also fell 11.4% in November to reach SGD$628 million ($436 million), down from SGD$654 million in a year earlier. Sales for telecommunications apparatus and computers were also down 8.2% on the year in November.
The data showed that sales of medical goods and toiletries also witnessed a strong performance, increasing 9.6% in November compared with the same month of 2014.
However, sales at petrol service stations recorded the largest drop, declining by 15.8% on the year. Retail sales for the food and beverage sector also fell 11.4% in November to reach SGD$628 million ($436 million), down from SGD$654 million in a year earlier. Sales for telecommunications apparatus and computers were also down 8.2% on the year in November.
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