Domestic wholesale trade dropped 5.7% in Q3

General wholesale trade was the main drag.

Data released today by the Department of Statistics showed that domestic wholesale trade dropped 5.7% year-on-year in the third quarter. On a quarter-on-quarter basis, domestic wholesale trade remained relatively flat with 0.4% growth.

The decline was brought about by a 22.7% year-on-year decline in the general wholesale trade industry. Other industries that experienced lower domestic sales in third quarter 2014 over third quarter 2013 included metals, timber & construction materials (-7.3%), petroleum & petroleum products (-6.8%), ship chandlers & bunkering (-5.9%) and telecommunications & computers (-5.7%).

household equipment & furniture and electronic components industries both reported marginal declines of 0.5% in third quarter 2014 as compared to the same period in the previous year. 

However, after removing the price effect, the domestic sales volume of the household equipment & furniture, electronic components and telecommunications & computers industries expanded by 5.9%, 5.2% and 1.6% respectively.

On the other hand, domestic sales of the food, beverages & tobacco and industrial & construction machinery industries grew by 8.3% and 6.9% respectively. 

The chemicals & chemical products and transport equipment industries also reported year-on-year domestic sales increases of 4.1% and 2.6% respectively. In contrast, after removing price effect, the transport equipment industry recorded a decrease of 4.2% in the third quarter.