FX.co ★ Singapore Retail Sales Growth Hits 3-Year High

Retail sales in Singapore rose by 8.3% year-on-year in February 2026, sharply rebounding from a slightly upwardly revised 0.5% decline in January. This was the fastest expansion in retail activity since February 2023, largely supported by stronger sales at department stores (16.8% vs. -12.9% in January), food and alcohol outlets (13.6% vs. 1.9%), cosmetics, toiletries and medical goods (13% vs. -0.2%), wearing apparel and footwear (8.8% vs. -13.1%), and the “others” category (12.8% vs. -14.7%).

Excluding motor vehicles, parts and accessories, total retail sales also recovered, increasing by 11.2% after a 2.9% decline in January. In contrast, turnover for motor vehicles, parts and accessories fell by 7.8% (vs. +15.8% previously), while sales of optical goods and books contracted by 4.3% (vs. +12% previously).

On a seasonally adjusted month-on-month basis, overall retail trade declined by 4.1% in February, the sharpest fall since May 2021, reversing a downwardly revised 6% increase in the preceding month.