Singapore retail sales continue momentum in March

clothing store in Singapore
Retail sales grew 3.3 per cent in March. (Source: Bigstock)

Singapore retail sales rose again in March, extending the growth seen the previous month.

According to the Department of Statistics, retail sales – excluding motor vehicles, parts and accessories – grew 3.3 per cent year-on-year in March, following a 11.3 per cent uplift in February.

The estimated total retail sales value was SG$3.8 billion (US$2.98 billion), of which 18.9 per cent were from online.

On a seasonally adjusted basis, retail sales rose 3.3 per cent in March over the previous month. 

Most sectors recorded year-on-year sales growth in March, led by recreational goods, which rose 13.1 per cent. Computer and telecommunications equipment came in second place with 11.9 per cent growth, partly due to higher mobile phone sales. 

Sectors that saw single-digit increases include watches and jewellery, apparel and footwear, cosmetics and medical goods, supermarkets, and convenience stores.

On the negative side, sales of food and alcohol dropped 6 per cent, department stores fell 5.7 per cent, and furniture and household equipment decreased 1.9 per cent.

Sales of food and beverage services increased 2.3 per cent in March, continuing the 5.6 per cent growth in February, and totalling SG$1.6 billion, with 20.6 per cent online. 

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