Domestic wholesale trade dips 3.3% QoQ in Q422

Most wholesale trade industries recorded QoQ declines in domestic sales.

Domestic wholesale sales fell 3.3% QoQ in the fourth quarter of 2022, data from the Department of Statistics Singapore (SingStat) showed.

This as most wholesale trade industries recorded quarter-on-quarter declines in domestic sales in Q4.

Amongst industries, Household Equipment & Furniture and Telecommunications & Computer had the biggest declines, with sales falling 17.7% and 13.6%, respectively.

Singstat attributed the sales decline in the abovementioned industries to “a fall in demand for computers, audio and video equipment.”

Other industries which saw contraction during the quarter were Food, Beverages & Tobacco (-2.5% QoQ), Chemicals and Chemical Products (-11.5% QoQ); Ship Chandlers and Bunkering (-2.7% QoQ); Electronic Components (-2.1% QoQ); Metals, Timber & Construction Materials (-7.1% QoQ); Petroleum & Petroleum Products (-0.5% QoQ); Industrial & Construction Machinery (-5.6% QoQ); General Wholesale Trade (-4.4% QoQ); and Other Wholesale Trade (-2.6% QoQ).

Only Transport Equipment saw an expansion in sales in Q4, rising 23.0% QoQ.