Published:
Domestic wholesale trade crashed 26% in Q3
Due to low commodity prices.
Persistently low oil prices and weak petrochemical demand caused Singapore's domestic wholesale trade to drop 26% year-on-year in the third quarter, data from the Department of Statistics show.
Ship chandlers and bunkering saw a 51% decrease in domestic sales, while wholesale trade of petroleum products dropped 38.8%.
There was also a significant decrease in general wholesale trade, which dropped 38.8% during the quarter.
In comparison, the telecommunications & computers industry recorded a double-digit growth of 13.1%.
Excluding petroleum, domestic wholesale trade fell by 12.1%.
On a quarter-on-quarter basis, domestic wholesale trade declined 9.6%.
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