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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
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Wholesale Trade Index
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
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Wholesale Trade Index
Second Quarter 2019
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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.
Wholesale Trade Index
Second Quarter 2019
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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%
Chart 2 Year-on-Year Change at
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.
Wholesale Trade Index
Second Quarter 2019
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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%
Chart 3 Quarter-on-Quarter Change at
Current Prices (Seasonally Adjusted)
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
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.
Wholesale Trade Index
Second Quarter 2019
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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%
Chart 5 Year-on-Year Change at
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
Chart 6 Year-on-Year Change at
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
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).
Wholesale Trade Index
Second Quarter 2019
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FOREIGN WHOLESALE TRADE BY INDUSTRY
Quarter-on-Quarter Change
(Seasonally Adjusted)
-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%
Chart 7 Quarter-on-Quarter Change at
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
Chart 8 Quarter-on-Quarter Change at
Constant Prices (Seasonally Adjusted)
%
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
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.
Wholesale Trade Index
Second Quarter 2019
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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
(Seasonally Adjusted)
Year-on-Year Change
at Current Prices at Constant Prices
Quarter-on-Quarter Change
(Seasonally Adjusted)
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
Wholesale Trade Index
Second Quarter 2019
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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.
Wholesale Trade Index
Second Quarter 2019
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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]