Singapore Wholesale Trade Falls 4.4% In Q4

(RTTNews) - Singapore's wholesale trade declined in the final quarter of 2024, figures from the Department of Statistics showed on Thursday.

At current prices, domestic wholesale sales declined a seasonally adjusted 4.4 percent yearly in the fourth quarter, though slower than the 6.9 percent fall in the previous quarter.

Excluding petroleum, domestic wholesale sales fell 0.7 percent, reversing a 1.0 percent growth in the third quarter.

Domestic sales of the industrial and construction machinery fell the most with 22.6 percent due to lower sales of electrical and wiring accessories.

Data showed that the ship chandlers and bunkering and petroleum and petroleum products industries declined 14.1 percent and 10.4 percent, respectively, due to lower prices of bunker fuel and crude oil.

On a quarterly basis, wholesale trade grew 4.6 percent in the fourth quarter, reversing a 6.7 percent fall in the previous quarter.

Foreign wholesale trade decreased 2.9 percent annually and by 2.1 percent quarterly in the fourth quarter.