Singapore's retail sales slumped 52.1% year-on-year in May 2020, after a downwardly revised 40.3% tumble in April, and compared with market consensus of a 27.1 percent fall. It was the 16th straight month of fall in retail trade and the steepest on record, amid the severe damage caused by the coronavirus pandemic. Sales fell further for watches & jewelry (-96.9% vs -88.1% in April), wearing apparel (-89.1% vs -84.9%), motor vehicles (-85.7% vs -77%), optical goods & books (-81.9% vs -65.9%), recreational goods (-74.2% vs -63.8%), others (-70% vs -59.8%), food & alcohol (-58% vs -54.3%), petrol service (-58.2% vs -47.7%), cosmetics, toiletries & medical goods (-49% vs -46%), and furniture & household equipment (-64.2% vs -38.4%). Also, sales plummeted in department srores (-93.4% vs -82.3%). In addition, sales in supermarkets rose less (56.1% vs 75.2%). On a monthly basis, retail sales plunged by 21.5%, after a downwardly revised 31.3% slump in April.

Retail Sales YoY in Singapore averaged 4.44 percent from 1986 until 2020, reaching an all time high of 50.70 percent in February of 1988 and a record low of -52.10 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 July of 2020. source: Statistics Singapore

Retail Sales YoY in Singapore is expected to be 2.50 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 3.00 in 12 months time. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2021, according to our econometric models.

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Singapore Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
-52.10 -40.30 50.70 -52.10 1986 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-03 05:00 AM Feb -8.6% -5.3% 0.7% -8.5%
2020-05-05 05:00 AM Mar -13.3% -8.4% -0.5%
2020-06-05 05:00 AM Apr -40.5% -13.3% -11%
2020-07-03 05:00 AM May -52.1% -40.3% -27.1% -15%
2020-08-05 05:00 AM Jun -52.1% 1.5%
2020-09-04 05:00 AM Jul
2020-10-12 05:00 AM Aug
2020-11-12 05:00 AM Sep 2.5%


News Stream
Singapore Retail Sales Drop the Most on Record
Singapore's retail sales slumped 52.1% year-on-year in May 2020, after a downwardly revised 40.3% tumble in April, and compared with market consensus of a 27.1 percent fall. It was the 16th straight month of fall in retail trade and the steepest on record, amid the severe damage caused by the coronavirus pandemic. Sales fell further for watches & jewelry (-96.9% vs -88.1% in April), wearing apparel (-89.1% vs -84.9%), motor vehicles (-85.7% vs -77%), optical goods & books (-81.9% vs -65.9%), recreational goods (-74.2% vs -63.8%), others (-70% vs -59.8%), food & alcohol (-58% vs -54.3%), petrol service (-58.2% vs -47.7%), cosmetics, toiletries & medical goods (-49% vs -46%), and furniture & household equipment (-64.2% vs -38.4%). Also, sales plummeted in department srores (-93.4% vs -82.3%). In addition, sales in supermarkets rose less (56.1% vs 75.2%). On a monthly basis, retail sales plunged by 21.5%, after a downwardly revised 31.3% slump in April.
2020-07-03
Singapore Retail Sales Slump at Record Pace in April
Singapore's retail sales tumbled 40.5% year-on-year in April 2020, after a 13.3 8.4% plunge in March. It was the 15th straight month of fall in retail trade and the steepest on record, amid the severe damage caused by the coronavirus pandemic. Sales fell further for watches & jewelry (-87.8% vs -34.3% in March), wearing apparel (-85.3% vs -41.5%), motor vehicles (-77% vs -28.2%), optical goods & books (-64.5% vs -23%), recreational goods (-63.4% vs -19.4%), others (-58.5% vs -9%), food & alcohol (-54.4% vs -39.1%), petrol service (-47.7% vs -10.5%), cosmetics, toiletries & medical goods (-46.2% vs -21.8%), and furniture & household equipment (-37.9% vs 2.8%). Also, sales plummeted in department srores (-84.6% vs -38.2%). In contrast, sales jumped in supermarkets (74.6% vs 36.4%). On a monthly basis, retail sales plummeted by 31.7%, the most on record, after a 1.3% fall in March.
2020-06-05
Singapore Retail Sales Fall the Most Since 1998
Singapore's retail sales tumbled 13.3% year-on-year in March 2020, after a downwardly revised 8.4% fall in February. It was the 14th straight month decline in retail trade and the steepest since September 1998, reflecting the severe damage caused by the coronavirus pandemic. Sales fell further in department stores (-38.6% vs -36.3% in February); wearing apparel (-41.6% vs -40.9%); food & alcohol (-41% vs -39.4%); watches & jewelry (-34.4% vs -23.8%); cosmetics & medical goods (-21.9% vs -11.9%); recreational goods (-20.6% vs -9.8%); and optical goods & books (-23.5% vs -3.6%). Also, motor vehicles sales dropped (-28.2% vs 1.3%). In contrast, sales rose for computer & telecommunications (2.7% vs -3.8%) and supermarkets (35.9% vs 15.6%). On a monthly basis, retail sales went down 1.3%, after a downwardly revised 8.4% fall in February.
2020-05-05
Singapore Retail Sales Fall the Most in 8 Months
Singapore's retail sales dropped by 8.6 percent in February 2020, missing market forecasts of a 0.7 percent gain and after a 5.3 percent fall in January. This was the steepest drop in retail trade since June last year, reflecting the severe damage caused by the coronavirus pandemic. There were falls in sales of wearing apparel (-41 percent vs 6.6 percent in January), food & alcohol (-40.5 percent vs 5 percent), watches & jewelry (-23.8 percent vs 5.7 percent), cosmetics, toiletries & medical goods (-13.3 percent vs 1.2 percent), recreational goods (-10.2 percent vs -0.1 percent), computer & telecommunications (-4.3 percent vs -6.9 percent), and optical goods & books (-3.6 percent vs -9.5 percent). Also, sales declined at department stores (-36.3 percent vs -5.2 percent). In contrast, sales grew for motor vehicles (1.3 percent vs -33.6 percent) and at supermarkets & hypermarkets (15.5 percent vs 9.5 percent). On a monthly basis, retail sales dropped 8.9 percent, the most in 12 years.
2020-04-03

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.