Singapore's retail sales rose by 1.9% year-on-year in November 2021, slowing sharply from a 7.5% gain in the prior month. This was the weakest growth in retail trade since a drop in August, as as consumption weakened following rising cases of the Omicron strain of COVID-19. Sales growth slowed for cosmetics & medicinal goods (7.6% vs 9.3% in October), furniture & household equipment (8% vs 8.3%), food & alcohol (6.9% vs 8.4%), watches & jewelry (15.3% vs 28.3%), and and in supermarkets (5.7% vs 10.3%). In addition, sales fell further for motor vehicles (-12.3% vs -13.1%), recreational goods (-3.4% vs -5.1%), optical goods & books (-11.3% vs -16.9%), and others (-5.5% vs -7.4%). Also, sales of computer & telecommunications shrank 6.7% after jumping 72.9% in October. By contrast, sales rose faster for petrol service (21.1% vs 16.3%) and wearing apparel (12.8% vs 4.9%). On a monthly basis, retail sales went up 2.5%, stronger than a 0.7% gain in October. source: Statistics Singapore

Retail Sales YoY in Singapore averaged 4.52 percent from 1986 until 2021, reaching an all time high of 79.90 percent in May of 2021 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 January of 2022.

Retail Sales YoY in Singapore is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2023, according to our econometric models.

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Singapore Retail Sales YoY


Calendar GMT Actual Previous Consensus TEForecast
2021-12-03 05:00 AM Oct 7.5% 6.8% 3.2%
2022-01-05 05:00 AM Nov 1.9% 7.5% 1.5%
2022-02-04 05:00 AM Dec 1.9%


Related Last Previous Unit Reference
Retail Sales MoM 2.50 0.70 percent Nov/21
Retail Sales YoY 1.90 7.50 percent Nov/21
Consumer Spending 40373.10 39167.60 SGD Million Sep/21

News Stream
Singapore Retail Sales Growth at 3-Month Low
Singapore's retail sales rose by 1.9% year-on-year in November 2021, slowing sharply from a 7.5% gain in the prior month. This was the weakest growth in retail trade since a drop in August, as as consumption weakened following rising cases of the Omicron strain of COVID-19. Sales growth slowed for cosmetics & medicinal goods (7.6% vs 9.3% in October), furniture & household equipment (8% vs 8.3%), food & alcohol (6.9% vs 8.4%), watches & jewelry (15.3% vs 28.3%), and and in supermarkets (5.7% vs 10.3%). In addition, sales fell further for motor vehicles (-12.3% vs -13.1%), recreational goods (-3.4% vs -5.1%), optical goods & books (-11.3% vs -16.9%), and others (-5.5% vs -7.4%). Also, sales of computer & telecommunications shrank 6.7% after jumping 72.9% in October. By contrast, sales rose faster for petrol service (21.1% vs 16.3%) and wearing apparel (12.8% vs 4.9%). On a monthly basis, retail sales went up 2.5%, stronger than a 0.7% gain in October.
2022-01-05
Singapore Retail Sales Growth at 4-Month High
Singapore's retail sales rose by 7.5% year-on-year in October 2021, faster than an upwardly revised 6.8% gain in the prior month, pointing to the strongest pace of growth since June as consumption strengthened following the relaxation of movement curbs and rising COVID-19 vaccinations. Sales growth accelerated for cosmetics & medicinal goods (9.1% vs 7.3% in September), furniture & household equipment (8.2% vs 5.3%), food & alcohol (7.6% vs 3.8%) computer & telecommunications (72.9% vs 65.3%), watches & jewelry (26.9% vs 12.9%), and in supermarkets (10.4% vs 4.5%). At the same time, sales continued to rise for both wearing apparel & footwear (5.5% vs 6.8%), and petrol service (16.3% vs 22.3%). Meantime, there were falls in sales of motor vehicles (-13.1% vs -2%), recreational goods (-4.1% vs -4.7%), optical goods & books (-17.4% vs -10.6%) and others (-8% vs -3%). On a monthly basis, retail sales were up 0.7%, slowing sharply from a marginally revised 6.1% rise in September.
2021-12-03
Singapore Retail Sales Rebound
Singapore's retail sales rose by 6.6% year-on-year in September 2021, reversing from a 2.8% drop in the prior month, as consumption bounced back following the relaxation of movement restrictions and increasing the COVID-19 vaccination level in the city-state. There were an upturn in sales of cosmetics, toiletries & medicinal goods (7.1% vs -5.1% in August), wearing apparel & footwear (6.9% vs -1.9%), and furniture & household equipment (2.4% vs -6.1%). Also, sales of computer & telecommunication equipment picked up strongly (66.1% vs 3%) on the back of further rises in sales of food & alcohol (7.2% vs 2.5%), petrol service (22.3% vs 23.7%), watches & jewelry (13.3% vs 7.9%), and in supermarkets (4.4% vs 4.6%). Meantime, sales fell at a softer rate mainly for motor vehicles (-2% vs -17.5%), recreational goods (-5% vs -5.3%), and others (-3% vs -11.4%). On a monthly basis, retail sales were up 6%, the most in ten months, after a 0.6% fall in August.
2021-11-05

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.