Domestic wholesale trade up 34.9% YoY in Q4 2021

On a QoQ basis, a 3.6% increase was observed.
 
Singapore recorded a 34.9% year-on-year (YoY) increase in domestic wholesale trades, the Department of Statistics Singapore reported. 

This performance was attributed to higher oil prices. Excluding petroleum, domestic wholesale sales increased YoY by 22.2%. 

Following this growth, all trade industries echoed the same growth, with Ship Chandlers & Bunkering, Chemicals & Chemical Products, and Petroleum & Petroleum Products leading in wholesale trade. Respectively, these sectors had growths of 74.1%, 64%, and 54.4%, respectively. 

On the other end, sectors with the lowest growth include Industrial & Construction Machinery (0.9%), Transport Equipment (3.4%), and Electric Components (4.9%).

When compared on a quarter-on-quarter (QoQ) basis, a 3.6% increase from the third quarter of 2021’s wholesale trade was recorded. Excluding petroleum, this was at 4.9%.

QoQ, both Chemicals & Chemical Products, and Ship Chandlers & Bunkering Industries kept the lead, at growths of 39.3% and 15.8%, respectively.