Singapore’s retail sales improve
The Singapore Department of Statistics (SingStat) announced on October 5 that the country’s retail sales in August dropped 5.7 percent year-on-year, an improvement from the 8.5 percent decline recorded in July.
Singapore (VNA) – The Singapore Department of
Statistics (SingStat) announced on October 5 that the country’s retail sales in
August dropped 5.7 percent year-on-year, an improvement from the 8.5 percent decline
recorded in July.
The better performance was due to strong demand for both new and used cars, SingStat noted. Excluding sales from motor vehicles, Singapore’s retail sales fell 8.4 percent year-on-year.
The country’s estimated total retail sales value stood at 3.4 billion SGD in August, with 10.9 percent coming from online transactions.
Most retail industries continued to register year-on-year declines in sales in August. The department stores sector saw sales slump 35.3 percent, cosmetics, toiletries and medical goods sales fell 29 percent, while wearing apparel and footwear industries decreased 28.6 percent year on year.
Turnover from food and beverage (F&B) services was down 28.6 percent year-on-year, more than the 25.4 percent fall recorded in July. This was mainly due to the food caterer sector as food catering services for the majority of foreign worker dormitories were no longer required from August, SingStat said./.
The better performance was due to strong demand for both new and used cars, SingStat noted. Excluding sales from motor vehicles, Singapore’s retail sales fell 8.4 percent year-on-year.
The country’s estimated total retail sales value stood at 3.4 billion SGD in August, with 10.9 percent coming from online transactions.
Most retail industries continued to register year-on-year declines in sales in August. The department stores sector saw sales slump 35.3 percent, cosmetics, toiletries and medical goods sales fell 29 percent, while wearing apparel and footwear industries decreased 28.6 percent year on year.
Turnover from food and beverage (F&B) services was down 28.6 percent year-on-year, more than the 25.4 percent fall recorded in July. This was mainly due to the food caterer sector as food catering services for the majority of foreign worker dormitories were no longer required from August, SingStat said./.
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