Singapore's Retail Sales Grow 25.8 Pct On Year In June

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Singapore's retail sales grow 25.8 pct on year in June

SINGAPORE Aug 5 (UrduPoint / Pakistan Point News - 5th Aug, 2021 ) :The Department of Statistics (DOS) of Singapore announced on Thursday that Singapore's retail sales grew by 25.8 percent year-on-year in June, compared to the revised 79.9 percent year-on-year increase recorded in May.

The DOS attributed the year-on-year increase to the low base in June 2020 when Phase 1 measures were put in place with physical stores closed and dining-in not allowed until June 18.

The year-on-year growth in June 2021 was smaller compared to the 79.9 percent increase in the previous month with Circuit Breaker measures in place for the whole of May 2020.

Retail sales in June continued to be below pre-pandemic levels, the DOS added.

The estimated total value of retail sales in June was about 3.3 billion Singapore Dollars (about 2.44 billion U.S. dollars). Of these, online retail sales made up an estimated 15.

4 percent, compared to the 13.7 percent recorded this May.

The DOS also reported that the sales of food and beverage services increased by 7.3 percent year-on-year in June, compared to the revised 46.4 percent increase in May. On a seasonally adjusted month-on-month basis, Singapore's sales of food and beverage services declined by 11.3 percent in June, compared to the revised 14.2 percent decrease in May. This came as a result of dining-in being only allowed for groups of up to two for ten days this June. In comparison, dining-in for larger groups of up to eight and five were allowed for two weeks in May 2021.

The sales value was estimated at 529 million Singapore dollars (about 391.48 million U.S. dollars) in June 2021, of which the proportion of online sales hit an estimated 47.7 percent, compared to the 38.8 percent recorded this May.