petroleum & petroleum products 4.1 3.1 chemicals ... · industrial & construction machinery...

1

Wholesale Trade Index

SECOND QUARTER 2019

Food, Beverages & Tobacco 0.1 1.5

Household Equipment & Furniture 1.0 3.7

Petroleum & Petroleum Products 4.1 3.1

Chemicals & Chemical Products 7.8 1.5

Electronic Components 42.4 11.3

Industrial & Construction Machinery 8.4 2.2

Telecommunications & Computers 5.9 3.7

Metals, Timber & Construction Materials 1.7 6.8

General Wholesale Trade 11.1 3.7

Ship Chandlers & Bunkering 3.5 3.6

Transport Equipment 9.5 9.9

1 At current prices

2 Seasonally adjusted

% Change in Domestic Sales Year-on-Year Quarter-on-Quarter2

Domestic Wholesale Trade Index

2.5% 16.9% 4.1% 3.0%

DOMESTIC WHOLESALE TRADE1

1.8% 6.2% 8.5% 0.4%

Total Excluding petroleum

Year-on-Year Quarter-on-Quarter2 Year-on-Year Quarter-on-Quarter

2

2


SECOND QUARTER 2019

Food, Beverages & Tobacco 0.1 5.1

Household Equipment & Furniture 4.5 1.3

Petroleum & Petroleum Products 3.7 0.4

Chemicals & Chemical Products 9.8 5.0

Electronic Components 12.0 3.3

Industrial & Construction Machinery 8.9 3.3

Telecommunications & Computers 3.4 2.7

Metals, Timber & Construction Materials 8.3 3.8

General Wholesale Trade 9.6 3.5

Ship Chandlers & Bunkering 4.3 2.4

Transport Equipment 3.4 0.4

1 At current prices

2 Seasonally adjusted

% Change in Foreign Sales Year-on-Year Quarter-on-Quarter2

Foreign Wholesale Trade Index

FOREIGN WHOLESALE TRADE1

0.8% 3.9% 4.1% 1.2%

Total Excluding petroleum

Year-on-Year Year-on-Year Quarter-on-Quarter2 Quarter-on-Quarter

2


Second Quarter 2019

3

OVERVIEW

Domestic Wholesale Trade

Singapore’s domestic wholesale sales decreased 6.2% in second quarter 2019,

compared to the same period a year ago. Excluding petroleum, domestic

wholesale sales declined 8.5%.

Quarter-on-quarter seasonally adjusted domestic wholesale sales dropped

1.8% in second quarter 2019 over first quarter 2019. Excluding petroleum,

domestic wholesale sales dropped 0.4%.

After adjusting for price changes, overall domestic wholesale sales volume

decreased 5.7% year-on-year, and declined 2.0% compared to the previous

quarter.

Foreign Wholesale Trade

Singapore’s foreign wholesale sales decreased 3.9% in second quarter 2019,

compared to the same quarter a year ago. Excluding petroleum, foreign

wholesale sales declined 4.1%.

Foreign wholesale sales (seasonally adjusted) grew by 0.8% in second quarter

2019 over first quarter 2019. Excluding petroleum, foreign wholesale sales

increased 1.2%.

After removing the price effect, overall foreign wholesale sales volume

decreased 3.8% from a year ago, and increased 0.3% from the previous quarter.


Second Quarter 2019

4

DOMESTIC WHOLESALE TRADE BY INDUSTRY

Year-on-Year Change

5.8

-9.5

3.5

11.1

-1.7

-5.9

8.4

-42.4

-7.8

-4.1

-1.0

0.1

-55 -40 -25 -10 5 20%

Chart 1 Year-on-Year Change at

Current Prices

6.6

-10.4

8.4

13.9

-4.1

-6.7

9.2

-39.5

-3.2

-3.1

-0.2

-2.1

-55 -40 -25 -10 5 20%


Constant Prices

Food, Beverages & Tobacco Telecommunications & Computers

Household Equipment & Furniture Metals, Timber & Construction Materials

Petroleum & Petroleum Products General Wholesale Trade

Chemicals & Chemical Products Ship Chandlers & Bunkering

Electronic Components Transport Equipment

Industrial & Construction Machinery Other Wholesale Trade

Most wholesale industries recorded lower domestic sales in second quarter 2019

compared to the same quarter last year. Domestic sales of the Electronic Components

industry decreased 42.4% (Chart 1). Other industries which saw decreases in domestic

sales included Transport Equipment (-9.5%), Chemicals & Chemical Products (-7.8%) and

Telecommunications & Computers (-5.9%).

In contrast, domestic sales of the General Wholesale Trade and Industrial & Construction

Machinery industries expanded by 11.1% and 8.4% respectively on a year-on-year basis.


Second Quarter 2019

5

DOMESTIC WHOLESALE TRADE BY INDUSTRY

Quarter-on-Quarter Change

(Seasonally Adjusted)

5.0

-9.6

6.6

3.0

-8.3

1.4

-4.2

-6.8

-3.2

-3.6

2.5

-2.4

-20 -15 -10 -5 0 5 10%

Chart 4 Quarter-on-Quarter Change at

Constant Prices (Seasonally Adjusted)

6.3

-9.9

3.6

3.7

-6.8

3.7

-2.2

-11.3

-1.5

-3.1

3.7

-1.5

-20 -15 -10 -5 0 5 10%


Current Prices (Seasonally Adjusted)







Based on seasonally adjusted data, the Electronic Components, Transport Equipment

and Metals, Timber & Construction Materials industries registered declines in domestic

sales of 6.8% to 11.3% in second quarter 2019 compared to the previous quarter (Chart

3).

Conversely, the Household Equipment & Furniture, Telecommunications & Computers,

General Wholesale Trade and Ship Chandlers & Bunkering industries reported growths

in domestic sales of 3.6% to 3.7% in the same period.


Second Quarter 2019

6

FOREIGN WHOLESALE TRADE BY INDUSTRY

Year-on-Year Change

-9.2

-3.4

-4.3

-9.6

8.3

-3.4

-8.9

-12.0

-9.8

-3.7

-4.5

-0.1

-20 -15 -10 -5 0 5 10 15%


Current Prices

-9.6

-3.4

-0.2

-9.6

11.7

-1.5

-10.7

-13.9

-6.1

-4.7

-3.6

1.9

-20 -15 -10 -5 0 5 10 15


Constant Prices

%







On a year-on-year basis, most of the wholesale industries registered declines in foreign

sales, including Electronic Components (-12.0%) and Chemicals & Chemical Products (-

9.8%) (Chart 5).

Conversely, the Metals, Timber & Construction Materials industry experienced a growth

of 8.3% in foreign sales, due partly to higher demand for metal & metal ores products.

After removing the price effect, the volume of sales in the industry expanded by 11.7%

(Chart 6).


Second Quarter 2019

7

FOREIGN WHOLESALE TRADE BY INDUSTRY



-4.7

0.4

2.4

3.5

3.8

2.7

-3.3

-3.3

5.0

0.4

-1.3

5.1

-10 -5 0 5 10%


Current Prices (Seasonally Adjusted)

-4.2

0.2

-2.2

2.7

5.2

0.6

-3.4

-3.3

6.7

-0.7

-0.1

5.6

-10 -5 0 5 10


Constant Prices (Seasonally Adjusted)

%







After seasonal adjustment, foreign wholesale sales of the Food, Beverages & Tobacco

and Chemicals & Chemical Products industries grew by 5.1% and 5.0% respectively

(Chart 7). After removing the price effect, the Chemicals & Chemical Products industry

recorded a higher increase in sales volume of 6.7% (Chart 8).

In contrast, foreign wholesale sales of both the Electronic Components and Industrial &

Construction Machinery industries dropped 3.3% in second quarter 2019 compared to

the previous quarter.


Second Quarter 2019

8

1Q19 /

1Q18

2Q19 /

2Q18

1Q19 /

1Q18

2Q19 /

2Q18

1Q19 /

4Q18

2Q19 /

1Q19

1Q19 /

4Q18

2Q19 /

1Q19

Total -2.7 -6.2 -6.3 -5.7 -8.6 -1.8 -6.5 -2.0

Total (Excluding petroleum) -3.6 -8.5 -5.1 -7.8 -3.3 -0.4 -2.5 -0.7

Food, Beverages & Tobacco 4.2 0.1 2.2 -2.1 -3.9 -1.5 -6.1 -2.4

Household Equipment & Furniture -5.2 -1.0 -2.7 -0.2 -2.9 3.7 -2.6 2.5

Petroleum & Petroleum Products -1.8 -4.1 -7.6 -3.1 -13.1 -3.1 -10.8 -3.6

Chemicals & Chemical Products 3.5 -7.8 1.4 -3.2 -18.5 -1.5 -11.6 -3.2

Electronic Components -33.6 -42.4 -32.1 -39.5 -11.7 -11.3 -11.6 -6.8

Industrial & Construction Machinery 14.6 8.4 14.6 9.2 12.9 -2.2 14.8 -4.2

Telecommunications & Computers -0.3 -5.9 -3.6 -6.7 8.3 3.7 6.0 1.4

Metals, Timber & Construction Materials 9.0 -1.7 6.8 -4.1 -3.9 -6.8 -4.3 -8.3

General Wholesale Trade 2.2 11.1 1.3 13.9 -0.8 3.7 3.3 3.0

Ship Chandlers & Bunkering 4.1 3.5 -0.3 8.4 -5.3 3.6 -7.8 6.6

Transport Equipment 6.7 -9.5 4.7 -10.4 -8.4 -9.9 -8.0 -9.6

Other Wholesale Trade 1.7 5.8 1.5 6.6 0.7 6.3 3.6 5.0

1Q19 /

1Q18

2Q19 /

2Q18

1Q19 /

1Q18

2Q19 /

2Q18

1Q19 /

4Q18

2Q19 /

1Q19

1Q19 /

4Q18

2Q19 /

1Q19

Total 0.0 -3.9 -3.9 -3.8 -3.7 0.8 -2.4 0.3

Total (Excluding petroleum) -4.7 -4.1 -5.8 -3.0 -1.5 1.2 -1.1 1.1

Food, Beverages & Tobacco -0.7 -0.1 -0.9 1.9 -1.4 5.1 0.1 5.6

Household Equipment & Furniture -2.9 -4.5 -3.1 -3.6 4.6 -1.3 0.9 -0.1

Petroleum & Petroleum Products 5.3 -3.7 -1.4 -4.7 -6.0 0.4 -4.1 -0.7

Chemicals & Chemical Products -11.0 -9.8 -11.4 -6.1 -7.1 5.0 -2.8 6.7

Electronic Components -7.6 -12.0 -10.6 -13.9 -3.6 -3.3 -4.3 -3.3

Industrial & Construction Machinery -3.7 -8.9 -6.4 -10.7 -1.7 -3.3 -4.3 -3.4

Telecommunications & Computers -7.1 -3.4 -6.8 -1.5 0.6 2.7 -1.7 0.6

Metals, Timber & Construction Materials 1.5 8.3 1.2 11.7 5.2 3.8 5.8 5.2

General Wholesale Trade -8.0 -9.6 -9.8 -9.6 -11.2 3.5 -8.6 2.7

Ship Chandlers & Bunkering -4.7 -4.3 -6.8 -0.2 -15.3 2.4 -5.6 -2.2

Transport Equipment -3.6 -3.4 -4.9 -3.4 1.1 0.4 -0.3 0.2

Other Wholesale Trade -4.9 -9.2 -6.7 -9.6 -0.6 -4.7 -1.3 -4.2

Year-on-Year ChangeQuarter-on-Quarter Change


Year-on-Year Change

at Current Prices at Constant Prices



Table 2 Percentage Change of Foreign Wholesale Trade Index (2017=100)

at Current Prices at Constant Prices at Current Prices at Constant Prices

Table 1 Percentage Change of Domestic Wholesale Trade Index (2017=100)

Industry

Industry at Current Prices at Constant Prices


Second Quarter 2019

9

Explanatory Notes

Introduction

Since 1995, the Department of Statistics (DOS) has been compiling the quarterly Wholesale Trade Index

(WTI) to measure the short-term performance of the wholesale trade industry. Wholesalers supply the

merchandise to manufacturers, commercial and institutional clients for use in production, or to other

wholesalers and retailers for resale. The index series consists of the Domestic WTI and Foreign WTI. The

Domestic WTI measures the quarterly trend of wholesale sales in Singapore, while the Foreign WTI

measures that of wholesale sales outside Singapore, which comprises sales of off-shore merchandise,

domestic exports, re-exports and transhipment cargo.

The WTI series is presented at current prices and constant prices. The indices at current prices measure

the changes of sales values, which can result from changes in both price and quantity. After removing

the price effect, the indices at constant prices measure the changes in the volume of economic activity

in the wholesale trade industry.

To reflect changes in the structure of the wholesale trade industry, the coverage and weighting patterns

of the WTI series are revised regularly. The WTI series have been re-based from reference year 2012 to

2017, the fourth re-basing exercise of the series. The new WTI series (2017=100) have been released

starting from the 1Q2018 report.

Data Collection

The data used for the compilation of the WTI are obtained from the Quarterly Wholesale Trade Survey

(WTS) conducted by DOS, as well as from administrative sources.

Index Compilation

The overall sales index at current prices is a weighted average of indices at the detailed industry level.

To derive the sales index at detailed industry level, the quarterly wholesale sales for that industry is

divided by the average quarterly wholesale sales for the same industry in the base year (which is 2017).

The overall WTI is then computed by combining the sales indices of the detailed industries, using

weights which measure each industry’s relative importance in the overall wholesale trade industry.

To derive the indices at constant prices, the sales indices at current prices at the detailed industry level

are first deflated by the appropriate price indices. These component indices at constant prices are then

weighted and aggregated to derive the overall indices at constant prices.


Second Quarter 2019

10

Seasonal Adjustment

The WTI series is seasonally adjusted to remove the seasonal effects so as to better reflect the

underlying trend of the quarterly sales. The unadjusted indices display seasonal patterns arising from

intra-year periodic variations that repeat during the fixed period of time every year.

Singapore Department of Statistics

20 August 2019

More data are available at SingStat website at https://www.singstat.gov.sg/publications/industry/quarterly-wholesale-

trade-index

or through the QR code below

For enquiries, please contact

Ms Yap Hui Keng T (+65) 6835 8911 E [email protected]

https://www.singstat.gov.sg/publications/industry/quarterly-wholesale-trade-index

https://www.singstat.gov.sg/publications/industry/quarterly-wholesale-trade-index

petroleum & petroleum products 4.1 3.1 chemicals ... · industrial & construction machinery...

Documents