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.

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Singapore Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
79.70 54.00 79.70 -51.60 1986 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-05 05:00 AM Feb 5.2% -6.1% -3.5%
2021-05-05 05:00 AM Mar 6.2% 5.3% 7.3%
2021-06-04 05:00 AM Apr 54% 6.3% 47%
2021-07-05 05:00 AM May 79.7% 54% 26%
2021-08-05 05:00 AM Jun 79.7% 35%
2021-09-03 05:00 AM Jul
2021-10-05 05:00 AM Aug
2021-11-05 05:00 AM Sep


News Stream
Singapore Retail Sales Grow at Record Pace
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.
2021-07-05
Singapore Retail Sales Growth Hits Record High
Singapore's retail sales surged by 54% yoy in April 2021, after an upwardly revised 6.3% growth a month earlier. This was the sharpest growth in retail trade since the series began in 1996, amid a low base effect in last year, due to the impact of the coronavirus crisis. There were increases in sales of wearing apparel & footwear (442.6 percent vs 33.5 percent in March); watches & jewelry (646.8 percent vs 60.2 percent); petrol service stations (103.8 percent vs 18.5 percent); recreational goods (174.6 percent vs 27.6 percent); furniture & household equipment (63.0 percent vs 1.8 percent); and computer & telecommunication equipment (17.3 percent vs 20.3 percent). By contrast, decreases were seen in supermarkets & hypermarkets (-30.2 percent vs -13.9 percent); mini-marts & convenience stores (-16.8 percent vs -6.0 percent). On a monthly basis, retail sales fell 1.3% in April, reversing from a 3% rise in March.
2021-06-04
Singapore Retail Sales Growth at Over 2-Year High
Singapore's retail sales rose by 6.2% yoy in March 2021, after an upwardly revised 5.3% gain a month earlier. This was the steepest growth in retail trade since January 2019, as consumption accelerated in the wake of the COVID-19 pandemic. There were increases in sales of wearing apparel & footwear (35.6 percent vs 31.8 percent in February); watches & jewelry (60.2 percent vs 34.7 percent); petrol service stations (18.6 percent vs 0.8 percent); recreational goods (28.3 percent vs 16.1 percent); furniture & household equipment (1.8 percent vs 12.0 percent); and computer & telecommunication equipment (19.9 percent vs 12.9 percent). By contrast, decreases were seen in supermarkets & hypermarkets (-14.0 percent vs 13.6 percent); mini-marts & convenience stores (-6.0 percent vs 1.0 percent). On a monthly basis, retail sales went up 3% in March, swinging from a downwardly revised 1.5% fall in February.
2021-05-05
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 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.