Domestic wholesale trade plummets 27.2% in Q4 2020

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No Domestic wholesale trade was pulled down by lower petroleum sales. Singapore's domestic wholesale sales shrank by 27.2% YoY for the fourth quarter of 2020. Excluding petroleum sales, it fell by 8.9% as the COVID-19 pandemic diminished demand. Petroleum and petroleum products saw the largest decline in 2020, followed by ship chandlers and bunkerying industries at 32.2%. The Singapore Department of Statistics attributed this to weak domestic demand and lower oil prices. read more