Foreign wholesale trade jumps 48.7% YoY in Q4 2021

Excluding petroleum products, an expansion of 25.2% was reported.

Singapore saw a 48.7% year-on-year increase in foreign wholesale trade in the fourth quarter of 2021.

According to a report released by the Department of Statistics Singapore, the reported performance is due to increased external demand. Excluding petroleum, domestic wholesale sales grew by 25.2%.

All wholesale trade industries reported higher foreign sales. 

Sectors that saw the most growth include Petroleum & Petroleum Products, Ship Chandlers & Bunkering, and Chemicals & Chemical Products. These industries recorded growths of 94.4%, 78.8% and 53.2%, respectively.

Compared to the previous quarter, a 7.5% growth was seen, with foreign wholesale trades going up by 5.6%, excluding petroleum. 

Quarter-on-quarter, most wholesale trade industries reported the same growth, with the Transport Equipment Industry seeing a lead at 22% growth. Following this were the Ship Chandlers & Bunkering, and Chemicals & Chemicals Products industries at 21.1% and 12.2%, respectively. 

Only one industry reported a loss, with the General Wholesale Trade Industry seeing a decline of 4.3%.

Read also: Domestic wholesale trade up 34.9% YoY in Q4 2021