In April, Singapore’s retail sales growth accelerated, with most sectors, especially petrol service stations, experiencing significant advancements.
The Department of Statistics reported a 4.5% rise in retail sales, excluding motor vehicles, parts, and accessories. This increase builds upon the revised 3% growth seen in March. The estimated total value of retail sales touched SG$3.6 billion (US$2.8 billion), with online sales accounting for 18.2% of this figure. On a seasonally adjusted basis, retail sales in April increased by 0.4% compared to the previous month.
Strong Sector Performances Drive Growth
The surge in April’s retail sales was fueled by robust performances across most sectors. Petrol service stations observed a substantial year-on-year growth of 14.4%, primarily attributable to increased fuel prices resulting from the Middle East conflict. The recreational goods sector followed closely, registering a sales growth of 12.3%.
Several other sectors, including apparel and footwear, cosmetics and toiletries, supermarkets and hypermarkets, and optical goods and books, also posted robust improvements, with growth figures ranging between 5% and 8%.
Conversely, department stores and food and alcohol retailers experienced a slight dip in sales, recording declines of 1.1% and 0.1% respectively.
Moderate Increase in Food and Beverage Services
In the food and beverage services sector, sales marginally increased by 0.4% in April, showing a slowdown from the 2.3% growth observed in March. The total sales value of food and beverage services was estimated at SG$1.5 billion, with nearly one-fifth of this amount generated from online sales.
Questions & Answers
Which sector experienced the most significant growth in retail sales in Singapore in April?
The petrol service stations sector saw the most substantial growth, with a year-on-year increase of 14.4%.
What were the total estimated retail sales in Singapore in April?
The total estimated retail sales value in Singapore in April was SG$3.6 billion (US$2.8 billion).
How did the food and beverage services sector perform in Singapore in April?
The food and beverage services sector saw a moderate increase in sales of 0.4% in April.