Singapore retail sales growth accelerates to 4% in June

Sector valued at $4.2b as online transactions accounted for 16.4% of the total.

The Republic’s retail sales rose 4% year-on-year (YoY) in June, accelerating from the 2.9% increase recorded in the previous month, data from the Singapore Department of Statistics showed.

The estimated total retail sales value reached $4.2b, with online transactions accounting for 16.4%, up from 15.3% in May.

Excluding motor vehicles, parts, and accessories, sales increased 4.1%, following 3.6% growth in the last month.

On a seasonally adjusted basis, retail sales rose 1% from May. Excluding motor vehicles, parts and accessories, sales increased 0.2%.

Most of the sector’s industries recorded YoY growth in June.

Recreational goods sales increased 11.4%, mainly due to higher sporting-goods sales, whilst watches and jewellery rose 10.5%. Computer and telecommunications equipment sales went up 9.8%.

Online sales accounted for nearly 65% of computer and telecommunications equipment sales, 35.2% of furniture and household equipment sales, and 12.2% of supermarket and hypermarket sales.

However, department-store sales fell 9.5%, whilst wearing apparel and footwear declined 1.7%.