Singapore’s retail sales continue improving
Singapore’s retail sales in July fell by 8.5 percent year-on-year, an improvement from June’s 27.7 percent plunge, according to the Department of Statistics (SingStat).
Illustrative image (Source: https://www.businesstimes.com.sg/)Singapore (VNA) – Singapore’s retail sales in July fell by 8.5 percent year-on-year, an improvement from June’s 27.7 percent plunge, according to the Department of Statistics (SingStat).
Compared to June, seasonally adjusted retail sales saw a 27.4 percent increase month-on-month in July. This was attributed to a lower base in the previous month, when most physical stores were closed until June 18, before Phase 2 of Singapore's reopening began.
The estimated total retail sales value in July was about 3.3 billion SGD (2.2 billion USD), with online retail sales making up an estimated 11.0 percent.
Online retail sales of the computer and telecommunications equipment, furniture and household equipment, as well as supermarkets and hypermarkets industries made up 49.1 percent, 21.8 percent and 11.4 percent of the total sales of their respective industry.
Among the segments that were hard hit by July’s retail slump were department stores, which saw a 32.1 percent drop in sales; clothes and shoes (minus 27.7 percent); and watches and jewellery (minus 21 percent)./.
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
ASEAN
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
