Singapore Retail Sales in November Up 1.9%

Singapore’s retail sales went up 1.9 percent year-on-year in November, a slower growth than the previous month’s 7.5 percent increase.

Excluding motor vehicles, the year-on-year increase was 4.1 percent, according to data from the Department of Statistics Singapore (SingStat) released on Wednesday.

The larger annual increase in October was partly due to new product launches during the month that gave the telecommunications industry a boost in mobile phone sales.

The total value of retail sales was estimated at $3.7 billion, of which 16.9 percent were online sales. Year-end online shopping events such as Singles’ Day (11.11) and Black Friday helped boosted November online retail sales from 15.2 percent in October, according to SingStat.

Sales of gas service stations and jewelry industries grew 21.1 percent and 15.3 percent respectively, mainly due to higher petrol prices and an increase in demand for watches and jewelry.

Meanwhile, the food and beverage services industry recovered from its 4.5 percent drop in October, which was caused by tightened COVID-19 restrictions, and grew 0.6 percent in November.

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