The surge in domestic sales of the ship chandlers & bunkering (74.1%) & petroleum & petroleum products (54.4%) were attributable to a sharp increase in oil prices.
Meanwhile, the chemicals & chemical products industry rose 64.0%, due to improved demand and higher prices of petrochemicals.
The household equipment & furniture and other wholesale trade industries improved by 19.1% and 18.2% respectively, due partly to higher sales of audio and video equipment as well as medicinal and pharmaceutical products.
On a seasonally adjusted basis, total domestic wholesale trade rose 3.6% q-o-q, led by the chemicals & chemical products industry.
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Excluding petroleum, Singapore’s domestic wholesale trade rose 22.2% y-o-y and 4.9% q-o-q.
Singapore’s foreign wholesale sales grew by 48.7% y-o-y. According to Singstat, the increase was due partly to the recovery of the global oil market.
All wholesale trade industries recorded higher foreign sales on a y-o-y basis, led by petroleum & petroleum products and ship chandlers & bunkering, which surged 94.4% and 78.8% respectively.
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The spike in foreign sales for these industries were due to improved external demand and higher petroleum prices.
The chemicals & chemical products industry also registered a 53.2% y-o-y growth due to better external demand and higher chemical prices.
Similarly, the metals, timber & construction materials and electronic components industries rose 35.0% and 29.5% y-o-y respectively on the back of higher prices for metals and metal ores, as well as heightened demand for electronic components.
On a seasonally adjusted basis, total foreign wholesale trade rose 7.5% q-o-q, led by the ship chandlers & bunkering industry.
Excluding petroleum, Singapore’s foreign wholesale trade rose 25.2% y-o-y and 5.6% q-o-q.
