Singapore's retail sales jumped 5.2 percent year-on-year in February 2021, ending a 24-month period of decline, due to the Chinese New Year celebrations. There were increases in sales of wearing apparel & footwear (31.6 percent vs -28.4 percent in January); watches & jewelry (34.1 percent vs -8.1 percent); petrol service stations (0.8 percent vs -7.3 percent); supermarkets & hypermarkets (13.6 percent vs 7.3 percent); recreational goods (13.9 percent vs 7.3 percent); mini-marts & convenience stores (1.0 percent vs -3.8 percent); furniture & household equipment (11.4 percent vs 28.9 percent); and computer & telecommunication equipment (12.8 percent vs 24.4 percent). On a seasonally adjusted monthly basis, retail sales fell by 1.6% in February, after decreasing by 1.7 percent in January. 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 April 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.

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Singapore Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
5.20 -6.10 50.70 -51.60 1986 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-05 05:00 AM Nov -1.9% -8.5% -6.5%
2021-02-05 05:00 AM Dec -3.6% -1.7% -1.5%
2021-03-05 05:00 AM Jan -6.1% -3.3% 1.5%
2021-04-05 05:00 AM Feb 5.2% -6.1% -3.5%
2021-05-05 05:00 AM Mar 5.2% 7.3%
2021-06-04 05:00 AM Apr
2021-07-03 05:00 AM May
2021-08-05 05:00 AM Jun


News Stream
Singapore Retail Sales Rise for 1st Time in 25 Months
Singapore's retail sales jumped 5.2 percent year-on-year in February 2021, ending a 24-month period of decline, due to the Chinese New Year celebrations. There were increases in sales of wearing apparel & footwear (31.6 percent vs -28.4 percent in January); watches & jewelry (34.1 percent vs -8.1 percent); petrol service stations (0.8 percent vs -7.3 percent); supermarkets & hypermarkets (13.6 percent vs 7.3 percent); recreational goods (13.9 percent vs 7.3 percent); mini-marts & convenience stores (1.0 percent vs -3.8 percent); furniture & household equipment (11.4 percent vs 28.9 percent); and computer & telecommunication equipment (12.8 percent vs 24.4 percent). On a seasonally adjusted monthly basis, retail sales fell by 1.6% in February, after decreasing by 1.7 percent in January.
2021-04-05
Singapore Retail Sales Drop the Most in 3 Months
Singapore's retail sales declined by 6.1% year-on-year in January of 2021, much faster than a downwardly revised 3.3% drop a month earlier. This was the 24th straight month of decrease in retail trade and the steepest pace in three months, reflecting the impact of the ongoing COVID-19 pandemic on consumption. Sales shrank further for food & alcohol (-43.6% vs -32.4% in December), petrol service (-7.3% vs -5%), cosmetics, toiletries (-31.8% vs -33.3%), wearing apparel (-28.5% vs -22.9%), watches & jewelry (-8.1% vs -10.1%), optical good & books (-6.1% vs -8.8%), others (-9.8% vs -12.2%), and department stores (-36.1% vs -28.8%). By contrast, sales grew for motor vehicles (10.3% vs 3.3%), furniture (25.9% vs 21.2%), computer & telecommunication equipment (24.8% vs 25.4%), and supermarkets (7.8% vs 25.4%). On a monthly basis, retail sales fell by 1.8%, after a revised 1% decrease in December.
2021-03-05
Singapore Retail Sales Fall for 23rd Month
Singapore's retail sales declined by 3.6 percent year-on-year in December of 2020, after a downwardly revised 1.7 percent drop a month earlier. This was the 23rd straight month of decrease in retail trade, dragged by food & alcohol (-35.0% vs -36.8% in November), petrol service (-5.0% vs -12.9%), cosmetics, toiletries (-35.4% vs -26.7%), wearing apparel (-22.8% vs -23.1%), watches & jewelry (-10.2% vs -7.6%), optical good & books (-11.6% vs -8.7%), others (-10.5% vs -19.2%), and department stores (-28.7% vs -23.5%). By contrast, sales grew for motor vehicles (3.3% vs 5.2%), furniture (20.8% vs 27.3%), computer & telecommunication equipment (24.8% vs 28.8%), and supermarkets (25.3% vs 23.3%). On a monthly basis, retail sales fell by 0.9%, reversing from an upwardly revised 7.5% jump in November.
2021-02-05
Singapore Retail Sales Fall the Least in 16 Months
Singapore's retail sales dropped by 1.9% year-on-year in November 2020, slowing from a marginally revised 8.5% decline in October. This was the 22nd straight month of fall in retail trade, and the slowest pace since July last year, as purchases declined less for food & alcohol (-37.3% vs -43.7% in October), cosmetics, toiletries & medical goods (-27.5% vs -29.9%), footwear (-22.3% vs -26.2%), watches & jewelry (-8.6% vs -24.1%), optical goods & books (-8.8% vs -12.7%), department stores (-24.5% vs -35.2%) and others (-19.1% vs -19.8%). Meanwhile, sales of petrol service continued to drop (-12.9% vs -12.4%). By contrast, purchases grew for motor vehicles (5.2% vs 7.5%), furniture & household equipment (28.5% vs 13.2%) and recreational goods (13.1% vs 9.7%) while that of computer & telecommunications equipment rebounded sharply (29.0% vs -18.5%). On a monthly basis, retail sales rose by 7.3% in November, the most in four months, after a 0.2% growth in October.
2021-01-05

Singapore Retail Sales YoY
In Singapore, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.