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