SINGAPORE: The Republic's domestic wholesale trade contracted by 15.9 per cent year-on-year in the fourth quarter of 2015, partly due to lower prices of petroleum and chemical products, the Department of Statistics Singapore (Singstat) announced on Friday (Feb 19).
In a press release, Singstat said that excluding petroleum, domestic wholesale trade declined 8.8 per cent when compared to the fourth quarter of 2014.
After adjusting for price changes, overall domestic wholesale trade saw a year-on-year increase of 13.8 per cent, it added.
On a quarter-on-quarter basis, seasonally-adjusted domestic wholesale trade declined 1.1 per cent in the fourth quarter. Excluding petroleum, domestic wholesale trade decreased by 1.6 per cent. After removing the price effect, overall domestic whole trade increased 5.3 per cent over the previous quarter, said Singstat.
Singstat also announced that seasonally-adjusted foreign wholesale trade fell by 7.1 per cent in the fourth quarter of last year when compared to the previous quarter.
Excluding petroleum, foreign wholesale trade decreased 5.6 per cent over the previous quarter. After removing the price effect, overall foreign wholesale trade contracted 0.7 per cent.
Compared to the same period a year ago, foreign wholesale trade dropped 14.4 per cent, partly due to lower prices of petroleum and chemical products. Excluding petroleum, foreign wholesale trade dropped 7.9 per cent, but after adjusting for price changes, overall foreign wholesale trade grew by 7.2 per cent year-on-year.