Domestic sales of the transport equipment industry dropped 39.0% due to lower sales of motor vehicles. Similarly, domestic sales of the petroleum & petroleum products and chemicals & chemical products industries declined 34.8% and 20.8% respectively, as a result of lower prices of crude oil and petrochemicals.
Singapore has recorded a 21.8% y-o-y decrease in domestic wholesale sales, and a 18.9% y-o-y decline in foreign wholesale sales in the second quarter of 2023, according to the Wholesale Trade Index report by the Department of Statistics Singapore.
Domestic wholesale sales declined 11.8% q-o-q, and on a y-o-y basis, most industries registered declines in the second quarter.
