Singapore service sector takings up 8.6% in Q4

• Feb 27, 2018

SINGAPORE – The service sector ended last year on a strong note, with overall takings up by 8.6 per cent for the last quarter of 2017 over the same period a year earlier.

All services industries performed better in the fourth quarter 2017, with the information & communications services industry reporting the largest jump of 13.6 per cent, according to the latest data by Singapore’s Statistics Department released on Tuesday (Feb 27).

Other industries that had double-digit growth include education services at 13.3 per cent and health & social services at 11.9 per cent.

Business receipts for recreation & personal services (9.8 per cent), financial & insurance services (9.2 per cent), business services (7.1 per cent), and transport & storage (4.3 per cent) also went up in the fourth quarter.

On a quarter-on-quarter basis, turnover of the overall services industries – excluding wholesale & retail trade and accommodation & food services – rose 4.9 per cent in Q4 2017 over the previous quarter.

Education services registered the highest growth in turnover of 10.1 per cent compared to Q3. This was followed by the business services (6.1 per cent), information & communications services (5.6 per cent), recreation & personal services (4.9 per cent), financial & insurance services (3.6 per cent) and transport & storage services (3.2 per cent) industries.