Economic Buzz: Singapores Domestic And Foreign Wholesale Trade Grow

23 May 2022 , 09:15 AM

Singapores domestic wholesale sales (seasonally adjusted) rose 5.1% in first quarter 2022 compared to fourth quarter 2021. Excluding petroleum, domestic sales increased 5.2% from the previous quarter. Compared to the same quarter a year ago, domestic wholesale sales increased 14.0% in first quarter 2022. Excluding petroleum, domestic wholesale sales grew by 18.1%. Singapores foreign wholesale sales (seasonally adjusted) grew by 13.6% in first quarter 2022 over fourth quarter 2021. Excluding petroleum, foreign wholesale sales increased 6.7% from the previous quarter. Foreign wholesale sales grew by 46.7% on a year-on-year basis in first quarter 2022, due partly to higher prices of crude oil and petroleum products. Excluding petroleum, foreign wholesale sales expanded by 25.1% as a result of increased external demand amidst the gradual global economic recovery as well as increased prices of raw materials such as metals & metal ores. Powered by Commodity Insights