Singapore’s Retail Sector: May’s Stability And Varied Industry Performances
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Singapore’s Retail Sector in May
In May, Singapore’s retail sector, excluding sales of motor vehicles, saw a stable performance. This follows a 0.8% growth in April and an increase of 0.7% in March. The data was gathered and released by the Department of Statistics. The total retail sales amounted to SG$3.6 billion (US$2.8 billion), with online sales contributing 14.5%.
On a seasonally adjusted basis, however, there was a 0.6% decrease in retail sales in May compared to April.
Performance across Industries
Different sectors within the retail industry showed varied performances. The computer and telecommunications equipment industry saw the most significant growth. Sales in this sector rose by 9.2% compared to the same period in the previous year. Supermarkets and hypermarkets followed suit, recording a 7.2% increase.
On the other hand, petrol service stations, as well as the clothing and footwear sector, reported declines. Sales dropped by 9.4% in petrol service stations and by 5.3% in the apparel and footwear industry.
Food & Beverage Services
The food and beverage (F&B) services sector also saw a rise in sales. In May, F&B sales increased by 1.4%, following a 1.3% increase in April. The total sales value for F&B services was about SG$1 billion. Online sales accounted for 25.2% of this figure.
Questions & Answers
Q.What was the overall performance of Singapore’s retail sector in May?
What was the overall performance of Singapore’s retail sector in May?
The retail sector in Singapore, excluding motor vehicles, remained stable in May after recording a growth of 0.8% in April and 0.7% in March.
Q.Which sectors within the retail industry showed the most growth?
Which sectors within the retail industry showed the most growth?
The computer and telecommunications equipment sector saw the most growth, with a 9.2% year-on-year increase. This was closely followed by supermarkets and hypermarkets, which reported a 7.2% rise in sales.
Q.How did the food and beverage services perform in May?
How did the food and beverage services perform in May?
The food and beverage services sector saw a 1.4% increase in sales in May, extending the growth of 1.3% recorded in April. The total sales value was estimated at SG$1 billion, with 25.2% of sales coming from online.
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