Services sectors' sales up 8.6% in Q4 2017

The information & communications services industry grew 13.6% and led the sector’s growth.

Overall business receipts in Singapore grew 8.6% YoY in Q4 2017, the Department of Statistics revealed.

According to its data, all services industries performed better in the fourth quarter of 2017, with the information & communications services industry reporting the largest growth of 13.6%.

Similarly, business receipts rose for the education services (13.3%), health & social services (11.9%), recreation & personal services (9.8%), financial & insurance services (9.2%), business services (7.1%) and transport & storage services (4.3%) industries.

On a QoQ basis, turnover of the services sector’s business receipts rose 4.9%. The education industry’s turnover grew 10.1%, the highest amongst sectors.

This was followed by the business services (6.1%), information & communications services (5.6%), recreation & personal services (4.9%), financial & insurance services (3.6%) and transport & storage services (3.2%) industries.

Improvement in business receipts was also parallel Singapore's services trade growth. It moved out of the lull as it grew by 4.7% and reached a total of $463.3b in 2017. According to International Enterprise (IE) Singapore, both services exports and imports increased by 4.2% and 5.1%, respectively.

Also Read

Singapore ready to tap Philippine market potential

Export decline not tied to global demand, says expert

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit