Singapore's retail sales rose by 6.2% yoy in March 2021, after an upwardly revised 5.3% gain a month earlier. This was the steepest growth in retail trade since January 2019, as consumption accelerated in the wake of the COVID-19 pandemic. There were increases in sales of wearing apparel & footwear (35.6 percent vs 31.8 percent in February); watches & jewelry (60.2 percent vs 34.7 percent); petrol service stations (18.6 percent vs 0.8 percent); recreational goods (28.3 percent vs 16.1 percent); furniture & household equipment (1.8 percent vs 12.0 percent); and computer & telecommunication equipment (19.9 percent vs 12.9 percent). By contrast, decreases were seen in supermarkets & hypermarkets (-14.0 percent vs 13.6 percent); mini-marts & convenience stores (-6.0 percent vs 1.0 percent). On a monthly basis, retail sales went up 3% in March, swinging from a downwardly revised 1.5% fall in February. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.19 percent from 1986 until 2021, reaching an all time high of 50.70 percent in February of 1988 and a record low of -51.60 percent in May of 2020. This page provides the latest reported value for - Singapore Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Retail Sales YoY in Singapore is expected to be 13.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Singapore to stand at 2.00 in 12 months time. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2022, according to our econometric models.