SINGAPORE, Nov. 20 (Xinhua Finance) -- Singapore's domestic wholesale trade grew by 0.4 percent in the third quarter this year compared with the previous quarter, driven by increase of sales in most industries, the Singapore Department of Statistics (DOS) announced on Thursday.
Excluding petroleum, however, domestic wholesale trade declined 2.1 percent.
While higher domestic sales were experienced across most industries, including food, beverages & tobacco, industrial & construction machinery and metals, the general wholesale trade industry recorded a 27.2-percent sharp decline against the previous quarter in domestic sales value, which largely offsets the increase in other industries.
On a year-on-year basis, domestic wholesale trade dropped 5.7 percent in the third quarter.
As to foreign wholesale trade, it recorded a decline of 1.8 percent on-quarter in the third quarter this year, driven by lower sales in most of the industries. Excluding petroleum, foreign wholesale trade dipped 1.7 percent over the previous quarter.
The Wholesale Trade Index measures the short-term performance of wholesale trade activities. The indices are presented at both current prices and constant prices.
The indices at current prices measure the changes in sales value which can result from changes in both price and quantity. By removing the price effect, the indices at constant prices measure the changes in sales volumes.
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