trending Market Intelligence /marketintelligence/en/news-insights/trending/6rj5_uvzfrl0pjsgk1inva2 content esgSubNav
In This List

Singapore retail sales drop 1.5% YOY in March

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow


Singapore retail sales drop 1.5% YOY in March

Singapore's total retail sales in March dropped 1.5% year over year to S$3.8 billion, which the city-state's Department of Statistics partially attributed to slower motor vehicle sales.

On a seasonally adjusted month-to-month basis, total retail sales were up 2.3% from February. Excluding motor vehicle sales, retail sales in March were up 2.6% on a year-over-year basis and 1.1% month to month.

Across all retail sales categories in March, department stores led growth with a 9.1% year-over-year increase. Sales also rose 7.5% for food retailers, 6.4% for gas stations, 6.2% for medical goods and toiletries, 5.0% for apparel and footwear, and 5.0% for watches and jewelry.

Meanwhile, sales dropped 16.1% year over year in the motor vehicles category, 8.0% for computer and telecommunications equipment, and 2.4% for optical goods and books.

Total sales for food and beverage services in March were S$716 million, representing year-over-year growth of 3.6% and a month-to-month decline of 1.3%. Among those services, fast-food outlets posted a 16.1% year-over-year increase in March sales.

As of May 11, US$1 was equivalent to S$1.34.