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Written reply to PQ on rent in retail store

Written reply to PQ on rent in retail store

Question

 

Ms Hazel Poa: To ask the Minister for Trade and Industry (a) whether the Ministry tracks rental cost as a percentage of total business cost for businesses in the retail sector; and (b) if so, what is the percentage for each year from 2000 to 2021.

 

Written Answer by Minister for Trade and Industry Gan Kim Yong

 

1. The Department of Statistics publishes data on the share of rental costs in total business costs in the retail trade sector. Between 2000 and 2020 (latest available data), the rental cost share of the retail sector was relatively stable, at around 31% on average. Details are provided in Table 1.

 

Table 1. Rental Costs as a Percentage of Total Business Costs for the Retail Trade Sector (2000 to 2020)

 

Year

Rental Costs as a Percentage of Total Business Costs

2000

28.1%

2001

30.9%

2002

30.1%

2003

28.4%

2004

29.7%

2005

28.5%

2006

28.3%

2007

28.5%

2008

28.9%

2009

31.3%

2010

33.1%

2011

33.7%

2012

33.3%

2013

33.0%

2014

33.2%

2015

33.0%

2016

32.5%

2017

31.5%

2018

30.8%

2019

30.9%

2020

24.1%

Average

30.6%

Sources: DOS

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