Retail sales in Singapore advanced by 1.1% year-on-year in June 2023, easing from a 1.8% gain in the previous month. It was the fourth straight month of increase in retail sales but the softest growth since July 2021, as sales slowed for cosmetics, toiletries & medical goods (8.3% vs 13.2% in May), wearing apparel & footwear (4.7% vs 4.8%), amid faster declines in petrol service stations (-24.2% vs -18.5%). On the other hand, sales continued to increase for food & alcohol (30.7% vs 25.7%), optical goods & books (8.7% vs 6.8%), and computer & telecommunications equipment (9.4% vs 6.2%), while rebounded for recreational goods (1.0% vs -7.9%). Meanwhile, sales of department stores fell further (-0.1% vs -0.6%). On a monthly basis, retail activity shrank 0.8% in June, following a 0.2% drop in the previous month. source: Statistics Singapore

Retail Sales YoY in Singapore averaged 4.68 percent from 1986 until 2023, reaching an all time high of 80.90 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 August of 2023.

Retail Sales YoY in Singapore is expected to be -0.20 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 1.40 percent in 2024 and 2.30 percent in 2025, according to our econometric models.

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Singapore Retail Sales YoY



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-05 05:00 AM May 1.8% 3.7% 2.8%
2023-08-04 05:00 AM Jun 1.1% 1.8% 1.0%
2023-09-05 05:00 AM Jul 1.1% 0.9%


Related Last Previous Unit Reference
Retail Sales MoM -0.80 -0.20 percent Jun 2023
Retail Sales YoY 1.10 1.80 percent Jun 2023
Consumer Spending 47001.50 46767.50 SGD Million Jun 2023

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
1.10 1.80 80.90 -51.60 1986 - 2023 percent Monthly
Current Prices, NSA

News Stream
Singapore Retail Sales Rise the Least in Near 2 Years
Retail sales in Singapore advanced by 1.1% year-on-year in June 2023, easing from a 1.8% gain in the previous month. It was the fourth straight month of increase in retail sales but the softest growth since July 2021, as sales slowed for cosmetics, toiletries & medical goods (8.3% vs 13.2% in May), wearing apparel & footwear (4.7% vs 4.8%), amid faster declines in petrol service stations (-24.2% vs -18.5%). On the other hand, sales continued to increase for food & alcohol (30.7% vs 25.7%), optical goods & books (8.7% vs 6.8%), and computer & telecommunications equipment (9.4% vs 6.2%), while rebounded for recreational goods (1.0% vs -7.9%). Meanwhile, sales of department stores fell further (-0.1% vs -0.6%). On a monthly basis, retail activity shrank 0.8% in June, following a 0.2% drop in the previous month.
2023-08-04
Singapore Retail Sales Growth Eases to 22-Month Low
Retail sales in Singapore eased to 1.8% year-on-year in May 2023, from a 3.7% growth in the previous month. It was the lowest reading since July 2021, as sales slowed for food & alcohol (24.9% vs 30.5% in April), cosmetics, toiletries & medical goods (13.1% vs 16.8%), optical goods & books (8.2% vs 8.6%) and wearing apparel & footwear (4.8% vs 13%). At the same time, sales declined for department stores (-0.6% vs 6.5%), recreational goods (-6.9% vs 2%), and petrol service stations (-18.2% vs -14.2%). Meanwhile, sales rebounded for computer & telecommunications equipment (5.1% vs -0.1%). On a monthly basis, retail activity fell 0.2% in May, shifting from a 0.5% rise in the previous month.
2023-07-05
Singapore Retail Sales Growth Eases in April
Retail sales in Singapore increased 3.6% year-on-year in April 2023, easing from a 4.5% rise in the previous month. Sales slowed for department stores (6.5% vs 16.8% in March), food & alcohol (30.5% vs 56.1%), wearing apparel & footwear (13% vs 26.5%) and recreational goods (2% vs 2.7%). Additionally, trade continued to fall for petrol service stations (-14.2% vs -14.4%), furniture & household equipment (-1.2% vs -5.1%) and computer & telecommunication equipment (-0.1% vs -3.6%). In contrast, sales accelerated mainly for cosmetics, toiletries & medical goods (16.8% vs 7%) and optical goods & books (8.6% vs 6.1%). On a monthly basis, retail trade rose 0.3%, slowing from a 2.2% advance in March.
2023-06-05