Singapore's retail sales rose by 12.1% yoy in April 2022, the most since June 2021, accelerating from an upwardly revised 8.8% gain a month earlier and marking the third rise in the past four months, boosted by a further recovery in consumption following a full reopening of the economy. Sales grew faster for food & alcohol (35.6% vs 21.5% in March), wearing apparel (46.6% vs 26.2%), and department stores (31.6% vs 17.0%), petrol services (24.5% vs 23.9%), while there was a rebound in both recreational goods (7.6% vs -1.8%) and others (6.6% vs -1.5%). In addition, sales rose further in supermarkets (5.1% vs 9.3%), and for cosmetics, toiletries (15.3% vs 25.4%), and computer & telecommunications (20.5% vs 25.4%). By contrast, sales dropped further for both motor vehicles (-16.4% vs -14.1%), and optical goods & books (-0.7% vs -8.2%). On a monthly basis, retail sales rose 1.2% in April, easing sharply from a downwardly revised 7.4% gain in March. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.55 percent from 1986 until 2022, 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 July of 2022.
Retail Sales YoY in Singapore is expected to be -5.00 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.