Singapore's retail sales rose by 8.7% yoy in March 2022, shifting from a revised 3.5% fall a month earlier and marking the second rise in the past three months, as consumption recovered further following a full reopening of the economy. Sales rebounded for both food & alcohol (19.6% vs -16.5% in February) and wearing apparel (25.8% vs -3.1%), amid a bounce back in sales in department stores 17.2% vs -5.8%) and supermarkets (9.3% vs -10.7%). At the same time, sales growth accelerated for cosmetics, toiletries (25.2% vs 18.5%), petrol services (23.9% vs 9.1%), and computer & telecommunications (27.3% vs 6.6%). In contrast, sales continued to fall for motor vehicles (-14.1% vs -14.1%), recreational goods (-0.8% vs -1.8%), optical goods & books (-8.2% vs -7.1%), and others (-1.6% vs -8.3%). On a monthly basis, retail sales increased 7.5% in March, the first rise in three months, after a revised 1.5% decrease in February. source: Statistics Singapore

Retail Sales YoY in Singapore averaged 4.53 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 May 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.

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Singapore Retail Sales YoY



Calendar GMT Actual Previous Consensus TEForecast
2022-04-05 05:00 AM Feb -3.4% 12% 12.3%
2022-05-05 05:00 AM Mar 8.7% -3.5% -2.6%
2022-06-03 05:00 AM Apr 8.7%


Related Last Previous Unit Reference
Retail Sales MoM 7.50 -1.50 percent Mar 2022
Retail Sales YoY 8.70 -3.50 percent Mar 2022
Consumer Spending 41039.10 40373.10 SGD Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.70 -3.50 79.90 -51.60 1986 - 2022 percent Monthly
NSA

News Stream
Singapore Retail Sales Rise for 2nd Time in 3 Months
Singapore's retail sales rose by 8.7% yoy in March 2022, shifting from a revised 3.5% fall a month earlier and marking the second rise in the past three months, as consumption recovered further following a full reopening of the economy. Sales rebounded for both food & alcohol (19.6% vs -16.5% in February) and wearing apparel (25.8% vs -3.1%), amid a bounce back in sales in department stores 17.2% vs -5.8%) and supermarkets (9.3% vs -10.7%). At the same time, sales growth accelerated for cosmetics, toiletries (25.2% vs 18.5%), petrol services (23.9% vs 9.1%), and computer & telecommunications (27.3% vs 6.6%). In contrast, sales continued to fall for motor vehicles (-14.1% vs -14.1%), recreational goods (-0.8% vs -1.8%), optical goods & books (-8.2% vs -7.1%), and others (-1.6% vs -8.3%). On a monthly basis, retail sales increased 7.5% in March, the first rise in three months, after a revised 1.5% decrease in February.
2022-05-05
Singapore Retail Sales Fall for 1st Time in 6 Months
Singapore's retail sales declined by 3.4% yoy in February 2022, reversing from an upwardly revised 12.0% growth a month earlier and pointing to the first drop since last August. Sales fell for food & alcohol (-16.5% vs 16.2% in January), motor vehicles (-14.1% vs -12%), wearing apparel (-2.1% vs 28.6%), recreational goods (-2.7% vs 4.5%), optical goods & books (-8.4% vs -5.7%), and others (-8.3%). Declines were also seen in department stores (-6% vs 28.9) and supermarkets (-10.8% vs 18.7%). Meanwhile, sales eased for both petrol services (8.8% vs 25.5%) and computer & telecommunications (4.7% vs 5.9%) while grew faster for cosmetics, toiletries (21% vs 18.9%). On a monthly basis, retail sales shrank 1.2% in February, the second straight month of fall, after a downwardly revised 2.2% decrease in January.
2022-04-05
Singapore Retail Sales Rise the Most in 5 Months
Singapore's retail sales rose by 11.8% year-on-year in January 2022, much faster than a 6.7% growth in the prior month. This was the fifth straight month of increase in retail trade and the strongest pace in the sequence, as consumption strengthened ahead of the Lunar New Year celebration, with sales mainly rising for cosmetics & medicinal goods (22.3% vs 17% in December), food & alcohol (16.3% 13.1%), petrol service (25.5% vs 23.4%), wearing apparel (28.3% vs 17.6%), watches & jewelry (29% vs 26.6%), furniture & household equipment (4.1% vs 3.3%), recreational goods (4.3% vs 0.5%), and computer & telecommunications (5% vs 6.9%). In contrast, sales fell further for motor vehicles (-12% vs -7.2%), optical goods & books (-5.5% vs -4.5%), and others (-2.4% vs -5.4%). In 2021, retail sales surged 11.1%, reversing from the prior year’s 15.3% drop. On a monthly basis, retail sales shrank 2.5% in January, the first drop in five months, after a downwardly revised 1.3% rise in December.
2022-03-04