Wed, 05 Oct 2022

SINGAPORE, Aug. 5 (Xinhua) -- The Department of Statistics (DOS) of Singapore announced on Friday that Singapore's retail sales grew by 14.8 percent year on year in June, compared to the 17.8 percent year-on-year increase recorded in May.

Excluding motor vehicles, retail sales grew by 19.8 percent this June, compared to the 22.6 percent growth in May.

DOS attributes the year-on-year increase in retail sales this June mainly to the low base in June 2021 when measures such as international travel restrictions were in place.

On a seasonally adjusted basis, Singapore's retail sales decreased by 1.4 percent in June over the previous month. In May, the retail sales grew by 1.8 percent month on month.

The estimated total value of retail sales this June was about 3.8 billion Singapore dollars (about 2.76 billion U.S. dollars). Of these, online retail sales made up an estimated 12.7 percent, higher than the revised 11.7 percent recorded in May.

The DOS also reported that the sales of food and beverage services jumped by 59.1 percent year on year this June, extending the 40.1 percent increase in the previous month. The significant growth in sales performance was attributed to the low base in June 2021, when restrictions on dining-in at food and beverage establishments were in place.

On a seasonally adjusted month-on-month basis, Singapore's sales of food and beverage services declined by 0.5 percent this June, compared to the 7.9 percent growth in May.

The sales value of food and beverage services was estimated at 885 million Singapore dollars (643.2 million U.S. dollars) in June, of which the proportion of online sales was estimated at 25.7 percent, higher than the 24.4 percent recorded in May.

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