Retail sales up 6.6% YoY to $3.4b in September

Computer and telecommunications equipment were up by 23.8% m-o-m.

A release by the Department of Statistics Singapore showed that Singapore retail sales, including motor sales, were up 6.6% year-on-year (YoY) to $3.4b in September.

Month-on-month (MoM), it also increased by 6%.

Without motor sales, retail trade had an 8.3% increase.

The increase can be attributed to the performance of the computer and telecommunications industry, with a YoY growth rate of 66.1%. Much of this was due to new mobile phone launches.

The rise in sales of petrol service stations and watches and jewellery at 22.3% and 13.3%, respectively also contributed to the overall growth.

Meanwhile, sales of optical goods and books, mini-marts and convenience stores, and recreational goods had the least YoY growth at -10.4%, -6% and 5%, respectively.

MoM, the top performers were computer and telecommunications equipment, cosmetics, and toiletries (23.8% increase) and medical goods (13.5%).

Petrol service stations and mini-marts and convenience stores had the least MoM growth at -1.8% and -0.1%, respectively.

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