Domestic wholesale sales rise 1.9% in Q2, driven by metals sector

The metals sector reported a 26.7% QoQ increase.

Domestic wholesale sales rose 1.9% QoQ in the second quarter of 2024 (Q2 2024).

Excluding Petroleum, which saw a 0.6% QoQ dip, domestic wholesale sales would have increased by 3.4% QoQ, said the Department of Statistics Singapore (SingStat).

Other industries which saw contraction during the quarter were Food, Beverages & Tobacco (-3.2%), Chemicals and Chemical Products (0.4%), Telecommunications & Computers (-9.2%), Electronic Components (-0.9%), and Industrial & Construction Machinery (-4.2%).

Meanwhile, the Metals, Timber & Construction Materials industry, which saw a 26.7% QoQ increase, helped boost overall domestic sales.

The industries which also reported higher sales were Transport Equipment (23.8%), Ship Chandlers and Bunkering (3.4%), Household Equipment & Furniture (5.4%), General Wholesale Trade (2.7%), and Other Wholesale Trade (11.7%).