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SINGAPORE: Singapore’s food and beverage (F&B) services rose 14.7 per cent year-on-year in February, with restaurants and food caterers leading the growth.
The Department of Statistics (SingStat) attributed the recovery – January saw a 5.5 per cent on-year drop – mainly to Chinese New Year being celebrated in February this year, as opposed to January in 2023.
Food caterers (39.5 per cent) and restaurants (20.5 per cent) led the way as all industries within the F&B services sector recorded growth in sales.
Sales of fast food outlets increased by 9 per cent, while sales of cafes, food courts and other eating places went up 5.2 per cent year-on-year in February.
The total sales value of F&B services in February was estimated at S$1.0 billion, said SingStat on Friday (Apr 5), with 20.8 per cent coming from online sales – lower than the 22.9 per cent recorded in January.
“Comparing the performance for the two-month period (January to February), F&B sales increased 4.0 per cent in 2024 compared to 2023. On a seasonally adjusted basis, sales of F&B services grew 7.9 per cent in February 2024 compared to the previous month,” said SingStat.
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