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Singapore's domestic and foreign wholesale sales see significant plunge in 2Q2020

Amala Balakrishner
Amala Balakrishner8/20/2020 11:32 PM GMT+08  • 3 min read
Singapore's domestic and foreign wholesale sales see significant plunge in 2Q2020
Singapore’s domestic wholesale sales plunged 40.6% year-on-year in 2Q2020 ended June, following lower petroleum sales
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Singapore’s domestic wholesale sales plunged 40.6% year-on-year in 2Q2020 ended June, following lower petroleum sales, according to data on the wholesale trade index released by the Department of Statistics (Singstat) on August 20.

The metric measures the short-term performance of the wholesale trade industry which encompasses wholesalers who supply merchandise to manufacturers and institutional clients who consume the products.

Specifically, in 2Q2020, the sale of petroleum and petroleum products in Singapore was down 55.6% year-on-year.

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