Food & alcohol continues to lead Singapore retail sales growth in August

(Source: Bigstock)

Singapore retail sales (excluding motor vehicles) rose 3.7 per cent year on year to US$2.5 billion in August, extending the 0.6 per cent growth in July

On a seasonally adjusted basis, August’s retail sales rose 1.7 per cent over the previous month, according to the Department of Statistics Singapore. 

Online retail sales accounted for 13.8 per cent of total retail sales, driven by computer & telecommunications equipment and furniture & household equipment sales.

Within the retail trade sector, sales of the food & alcohol industry recorded a year-on-year growth of 24.1 per cent, mainly due to increased sales of alcoholic products.

Mini-marts & convenience stores and computer & telecommunications equipment increased 8.8 per cent and 7.9 per cent, respectively.  

Meanwhile, sales of department stores and petrol service stations dropped 5.2 per cent and 2.7 per cent, respectively.

The F&B services sector posted a sales increase of 8.6 per cent to US$728.8 million, of which 23.1 per cent were from online sales.

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