Singapore's domestic wholesale sales decreased at a faster rate in the fourth quarter, data released by the Department of Statistics showed Tuesday.
The wholesale trade index for the domestic market, at constant prices, decreased a seasonally adjusted 4 percent sequentially in the fourth quarter, notably faster than the 1.8 percent fall recorded in the third quarter.
Sales of food, beverages and tobacco decreased 0.9 percent quarter-over-quarter, while wholesale sales of chemicals and chemical products fell by 11.4 percent during the three-month period. There was a 9.9 percent sequential fall in sales of petroleum and petroleum products.
Year-on-year, domestic wholesale sales decreased 5.3 percent in the fourth quarter, reversing the 1.9 percent increase seen in the previous quarter.
At the same time, seasonally adjusted wholesale sales in the foreign market decreased a 0.6 percent sequentially in the fourth quarter, following third quarter's 3.3 percent increase. Annually, foreign wholesale trade rose at a slower rate of 2.1 percent in the fourth quarter than the previous quarter's 5.5 percent growth.
by RTT Staff Writer
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