Services receipts rise 3.7% in Q1

Information and communications posted the strongest annual growth, whilst education led the quarterly increase.

Services sector business receipts rose 3.7% YoY in the first quarter of 2026, according to the Singapore Department of Statistics.

Excluding wholesale trade, business receipts grew 9.7%.

Total services business receipts reached about $1,324.6b during the quarter, whilst receipts excluding wholesale trade stood at about $240.3b.

All services industries recorded year-on-year growth in the first quarter.

Information and communications posted the strongest annual growth at 18.4%, largely due to social networking sites and information service activities.

Education grew 9.9% YoY, whilst professional services rose 9.2%.

Wholesale trade, the largest segment by receipts, grew 2.5% YoY, mainly due to increased wholesale trade of electronic components, telecommunications equipment, and computers.

Transportation and storage increased 5.7%, supported by the water and air transport segments.

On a quarter-on-quarter basis, overall services receipts fell 4.6% on a non-seasonally adjusted basis. Excluding wholesale trade, receipts declined 5.3%.

All industries reported lower quarterly revenue except education and transportation and storage. Education receipts rose 14.6%, largely driven by higher tuition fee receipts from universities, whilst transportation and storage edged up 0.4%.

Information and communications fell 11.4% QoQ, whilst wholesale trade declined 4.5%, mainly due to petroleum and petroleum products, and telecommunications and computers segments.

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