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Financial News: Singapore Retail Sales Rise In April

Singapore Retail Sales Rise In April

06/03/2022 - 05:08:00 (RTTNews)

(RTTNews) - Singapore's retail sales increased sharply in April, partly due to the larger growth in industries such as wearing apparel and footwear, food and alcohol and department stores, data from the Department of Statistics showed on Friday.

Retail sales rose 12.1 percent year-on-year in April, following an 8.8 percent increase in March.

Motor vehicle sales declined 16.4 percent annually in April, following a 14.1 percent fall in the previous month.

Excluding motor vehicles, retail sales grew 17.4 percent yearly in April, following a 13.6 percent rise in the preceding month.

Sales of food and alcohol gained 35.6 percent annually in April and those of wearing apparels and footwear by 46.6 percent.

Sales at department stores, and those of watches and jewelry rose by 31.6 percent and 28.4 percent, respectively.

Sales at petrol service stations increased 24.5 percent and those of computer and telecommunications equipment grew 20.5 percent.

Sales of furniture and household equipment, and cosmetics, toiletries and medical goods rose by 16.7 percent and 15.3 percent, respectively.

On a monthly basis, retail sales rose 1.2 percent in April, after a 7.4 percent growth in the prior month.

The statistical office also reported that sales of food & beverage services grew 11.4 percent year-on-year in April, after a 4.6 percent increase in March.

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