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Singapore’s domestic and foreign wholesale sales see higher y-o-y growth in 2Q21, but lower q-o-q growth

Atiqah Mokhtar
Atiqah Mokhtar8/20/2021 01:23 PM GMT+08  • 3 min read
Singapore’s domestic and foreign wholesale sales see higher y-o-y growth in 2Q21, but lower q-o-q growth
The y-o-y growth is largely due to the low base in 2Q20 when most major economies were under lockdown due to Covid-19.
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Singapore’s domestic wholesale sales grew 49.8% y-o-y in 2Q2021, following the 3.7% y-o-y decline recorded in 1Q2021, according to data released by the Department of Statistics (Singstat) on August 20.

The higher growth is largely due to the low base in 2Q2020 when most major economies were under lockdown due to the Covid-19 pandemic, resulting in a decline in global trade.

Excluding petroleum, domestic wholesale sales grew 31.3% y-o-y in 2Q2021.

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