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What is International Trade in Services (TIS)? |
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TIS refer to service transactions between residents and non-residents. While traditionally confined to transportation and travel, activities such as financial, professional and other business services have also grown in importance with globalization, improved telecommunications network and service trade liberalization. |
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How are TIS statistics compiled? |
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TIS statistics are compiled using both survey and administrative data, following principles and guidelines set out by the IMF Balance of Payments Manual, fifth edition.
The major service categories compiled by DOS are:
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Transportation |
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Travel |
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Construction |
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Insurance |
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Financial |
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Computer and Information |
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Royalties |
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Social (Personal, Cultural and Recreational) |
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Government, and |
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Other Business Services (include Trade-Related, Business Management, Legal, Accounting, Architectural, Advertising, Engineering, Research and Development.) |
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What are some of the recent findings on TIS? |
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Singapore's services exports rose by 10.0 per cent year-on-year to reach $97.0 billion in 2006 while services import increased by 9.3 per cent to $101.2 billion. The three largest services exported were transportation, trade-related and travel services while the three largest services imported were transportation, travel and royalties. Singapore's major trading partners for services were the United States (US), the European Union (EU), the Association of Southeast Asian Nations (ASEAN), Japan, Australia and Hong Kong.
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Where may I find more information on Singapore TIS statistics? |
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You may download our "Singapore’s International Trade in Services" publication or access the occasional papers on this topic online.
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