Singapore’s Domestic Wholesale Trade Recovers In Q2

(RTTNews) - Friday, the Singapore Department of Statistics said domestic wholesale trade grew 7.3% sequentially in the second quarter, following a revised 10% fall in the first quarter. The sequential increase was mainly attributable to petroleum and petroleum product sector, general wholesale trade and chemicals and chemical products sectors.

On an annual basis, domestic wholesale trade plunged 28.1% in the second quarter. After adjusting for price changes, domestic wholesale trade volume recorded an annual growth of 3.2%.

Further, the report showed that foreign wholesale trade grew 6.7% in the second quarter compared to first quarter with most major sectors recording higher sales. Meanwhile, foreign wholesale trade dropped 31.6% from the second quarter of 2008.

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