Most wholesale trade industries recorded QoQ declines in foreign sales.
Foreign wholesale sales dipped 5.9% QoQ in the fourth quarter of 2022, data from the Department of Statistics Singapore (SingStat) showed.
This as most wholesale trade industries recorded quarter-on-quarter declines in foreign sales in Q4.
Amongst industries, Household Equipment & Furniture had the biggest decline, falling 16.8% in sales due to weaker demand for electrical, audio and video equipment.
The Ship Chandlers & Bunkering industry likewise contracted, falling 12.0% due to a moderation in prices of bunker fuel.
Other industries which saw contraction during the quarter were Food, Beverages & Tobacco (-3.15% QoQ), Chemicals and Chemical Products (-6.9% QoQ); Telecommunications & Computers (-5.9% QoQ); Electronic Components (-1.6% QoQ); Metals, Timber & Construction Materials (-3.9% QoQ); Petroleum & Petroleum Products (-6.6% QoQ); Industrial & Construction Machinery (-4.7% QoQ); General Wholesale Trade (-7.5% QoQ); and Other Wholesale Trade (-7.0% QoQ).
Only Transport Equipment saw an expansion in sales in Q4, rising 2.5% QoQ.