Singapore retail sales up 1% in June ’24

Singapore’s retail sales grew one per cent year-on-year in July 2024, driven by a 27.2 per cent in motor vehicle sales, according to a data published by Department of Statistics on Thursday.

Total retail sales in July reached S$4 billion, with online sales accounting for 11.9 per cent of the total. Excluding motor vehicles, retail sales declined by 2.3 per cent year-on-year but showed a slight increase of 0.5 per cent on a month-on-month basis.

Seasonally adjusted retail sales saw a 3.1 per cent increase in July 2024 compared to the previous month. Excluding motor vehicles, seasonally adjusted retail sales rose by 0.5 per cent from June 2024.

Attribution: Singapore Department of Statistics report

Subediting: M. S. Salama