Singapore retail sales rise 2.2% in May


(Source: Inside Retail Asia | July 13, 2018)

Singapore retail sales rose 2.2 percent in May after excluding motor vehicles.

The year-on-year increase was driven by rising sales of furniture and household equipment – up 9.1 percent – and increased shopping before the Hari Raya festive period. Sales at petrol service stations rose 8.8 percent, due partly to higher petrol prices.

Sales of the apparel and footwear, medical goods and toiletries and department stores rose by between 2.7 percent and 6.8 percent. But sales of computer and telecommunications equipment fell 11.3 percent.

Compared to April, Singapore retail sales increased 0.4 percent, after excluding motor vehicles.

Statistics Singapore estimated total retail sales in May as worth S$3.8 billion. Online retail sales accounted for about 4.3 percent of that.

Compared to May last year, sales of food & beverage services increased 1.2 percent in May to an estimated $689 million.

Fast-food outlets and food caterers registered higher sales at 10.8 percent and 5.7 percent respectively, while turnover of restaurants and other eating places, such as cafes, fell by 0.3 percent and 1.9 percent respectively.


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