Singapore's wholesale domestic trade slipped 7.3% in 1Q

Blame it on weak petroleum sales.

According to the Department of Statistics, compared to the same period a year ago, domestic wholesale trade decreased 7.3% in first quarter 2013, partly attributed to a decline in domestic sales of petroleum & petroleum products. 

Excluding petroleum, domestic wholesale trade decreased by a smaller 2.1% compared to first quarter 2012. After adjusting for price changes, domestic wholesale trade registered a 0.6% increase over first quarter 2012.

On a year-on-year basis, the ship chandlers & bunkering and petroleum & petroleum products sectors experienced declines of 14.2% and 11.9% respectively in domestic sales.

After adjusting for price changes, the decreases were smaller at 4.6% and 2.3%. Other sectors that reported double-digit declines in domestic sales over the same period a year ago included transport equipment (-11.7%) and industrial & construction machinery (-11.0%).

The metals, timber & construction materials and food, beverage & tobacco sectors also experienced decreases of 3.7% and 1.5% respectively in domestic sales.

On the other hand, the telecommunications & computers sector recorded an increase of 15.4% in domestic sales compared to first quarter 2012. Domestic sales of the general wholesale trade, electronic components and household equipment & furniture sectors also grew by between 1.1% and 7.6%.