Retail sales rebound 4.5% in January

Total retail sales were estimated at $4.5b.

Retail sales in Singapore rose 4.5% year-on-year in January 2025, reversing a 2.9% decline in December 2024, according to data from Singstat.

Excluding motor vehicles, retail sales saw an even stronger growth of 4.8%, compared to a 4.0% drop in the previous month. The increase was partly driven by the timing of Chinese New Year, which fell in January this year instead of February.

On a seasonally adjusted basis, retail sales also showed positive momentum, increasing by 2.4% month-on-month. Excluding motor vehicles, the MoM growth stood at 2.6%.

Total retail sales were estimated at $4.5b, with online sales making up 11.6%, down from 13.3% in December. Excluding motor vehicles, online sales accounted for 13.3%.

The watches & jewellery sector saw the biggest year-on-year increase at 16.3%, followed by food & alcohol (11.6%) and cosmetics, toiletries & medical goods (11.2%). Supermarkets & Hypermarkets also posted growth.

Petrol service stations and computer & telecommunications equipment sales fell 5.4% and 4.4%, respectively.