Singapore 2008 Q2 services sector rises 13.3% on-year
Singapore's business receipts for services industry in the second quarter rose 13.3 per cent from the same period last year, spurred on by strong showing in the transport, business and IT sectors.
Excluding financial and insurance services, the index rose 13.9 per cent from a year earlier, the Department of Statistics said in a statement released Wednesday.
Quarter-on-quarter, total business receipts increased a marginal 1.3 per cent.
Revenue from water transport services surged 17.8 per cent on-year, while turnovers of air and land transport services were up by 15.2 per cent and 9.5 per cent respectively.
The telecommunications services industry expanded some 10.3 per cent as compared to the same quarter last year due to high revenue reported by courier, mobile cellular and internet access service providers.
The IT services industry experienced a 25.9 per cent growth as IT consultancy firms and IT development companies recorded brisk business during the quarter.
The business services industry had an increase in turnover of 16.7 per cent, while the insurance services sector was up 22.6 per cent.
Real estate reported a moderate 3.9 per cent growth after eight consecutive quarters of double digit growth. - CNA/yb
