Singapore Wholesale Trade Rises At Faster Pace In Q1

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Singapore's domestic wholesale trade increased at a faster rate in the three months ended March, due to strong growth in sales of petroleum and petroleum products, figures from the Department of Statistics showed Friday.

At current prices, domestic wholesale sales climbed a seasonally adjusted 5.7 percent sequentially in the first quarter, following a 5.2 percent rise in the previous quarter.

After removing price effect, overall domestic wholesale trade grew 2.0 percent over the previous quarter.

Excluding petroleum, domestic wholesale trade declined 6.0 percent from the December quarter, when it advanced by 2.4 percent.

On an annual basis, domestic wholesale trade rose 6.6 percent in the first quarter, after a 5.5 percent gain in the preceding quarter.

Foreign wholesale trade expanded 3.2 percent annually in the March quarter, while it remained flat form the previous quarter.