Singapore's retail sales surged to a record peak of 79.7% yoy in May 2021, after a 54.0 % growth a month earlier, amid a low base effect last year and as a recovery in the economy from the pandemic accelerated. Sales rose for most components: food & alcohol (44.3% vs 33.7% in April), motor vehicles (4211.2% vs 261.3%), petrol service (114.3% vs 1-4%), cosmetic, toiletries (34.7% vs 31.9%), wearing apparel & footwear (447.1% vs442.8%); furniture & households (161% vs 64.5%), recreational goods (219.7% vs 174.9%), watches & jewelry (2,090% vs 647.2%), computer & telecommunications (68.9% vs 17.6%), optical goods & books (296.5% vs 102.9%), others (140.1% vs 103.1%), and department stores (513% vs 269.8%). In addition, sales in supermarkets fell much less (-12.1% vs -30.3%). On a monthly basis, retail sales fell 6.8% after falling 1.4% in April. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.49 percent from 1986 until 2021, reaching an all time high of 79.70 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 August of 2021.
Retail Sales YoY in Singapore is expected to be 12.00 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.