Singapore's retail sector maintains growth in October
Singapore’s retail sales grew by 10.4% year on year in October, lower than the 11.3% increase recorded in the previous month, according to data released by the country’s Department of Statistics on December 6.
People walk in Marina Bay of Singapore (Photo: AFP/VNA)
Singapore (VNA) – Singapore’s retail sales grew by 10.4% year on year in October, lower than the 11.3% increase recorded in the previous month, according to data released by the country’s Department ofStatistics on December 6.
Excluding motor vehicles, retail sales in Singapore increased by14.3% in October compared to the growth of 16.9% in September.
Total retail sales in October are about 4 billion SGD (about 2.96billion USD), of which online retailsales accounted for 13%. In September, online retail sales accounted for 13.9%.
On a seasonally adjusted basis, October retail sales marked amonth-on-month increase of 0.1%.
Almost all industries recorded an increase in sales in Octobercompared to those of the same period last year. For example, the apparel andfootwear industry increased 52.9%, just behind the food and alcohol saleswith a 61% rise.
Meanwhile, motor vehic🎐le sales in October fell 15.8% compared tothat of the same period last year.
In September, motor vehicle sales fell 20.2%, which made theindustry the biggest loser out of the 14 industries. The sales of food and beverage services grew by 36.9% year on yearin October while the previous month saw a growth of 29.6%. The high growth in sales was attributed to the low base inOctober 2021 when dining out was restricted due to the COVID-19 pandemic. The sales value of food and beverage services was estimated at949 million SGD (701 million USD) in October, of which theproportion of online sales was estimated at 24.1%./.
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People walk in Marina Bay of Singapore (Photo: AFP/VNA) 
